Seadrill sells heavy-duty rigs

Offshore staff

HAMILTON, Bermuda -- North Atlantic Drilling has completed its acquisition of Seadrill’s harsh-environment drilling activities for $4.1 billion. The transaction followed North Atlantic’s private placement of 250,000,000 new shares in February, and the securing of a $2-billion loan facility.

North Atlantic Drilling will have five drilling rigs in operation – all 1,050 personnel have agreed to transfer to the new owner. A sixth rig, the West Elara, should be delivered shortly from the Jurong Shipyard and will then start drilling operations for Statoil in the North Sea.

In addition, Seadrill has decided to offer the recently ordered harsh environment jackup West Linus, which will be delivered to North Atlantic at its cost. This rig has a five-year drilling contract lined up offshore Norway for ConocoPhillips.

04/04/2011



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...