COPENHAGEN, Denmark – Maersk Drilling plans to acquire the newbuild harsh environment jackup rig formerly known as Hercules Highlander as original rights-holder Hercules Offshore entered into a restructuring support agreement with its lenders.
Maersk says it had entered into definitive agreement with a Hercules Offshore subsidiary to settle the final, $190-million payment to Jurong Shipyard Pte Ltd. and assume the right to take delivery of the rig.
The Danish driller said that the jackup is available for immediate delivery from Jurong’s Singaporean yard. Afterwards, the so-renamed Maersk Highlander will begin a five-year stint on the high-pressure/high-temperature (HP/HT) Culzean gas field offshore UK, operated by Maersk Oil and partners BP and JX Nippon. The $420-million drilling contract includes a mobilization fee of $9 million.
The rig design is Friede & Goldman JU2000E, categorized as a 400 ft (121 m) rig, with 30,000 ft (9,144 m) drilling depth and HP/HT capabilities. The rig has accommodation capacity for up to 150 personnel.
After the acquisition, Maersk Drilling’s fleet will hold 23 rigs with an additional harsh environment jack-up rig under construction.