Ventura Offshore, SED Energy Holdings plan merger with $1.3-billion revenue backlog

The combined company would unite deepwater drilling, marine geophysical and offshore service operations under a single publicly listed entity, with a contracted revenue backlog approaching $1.3 billion.
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Sept. 15, 2026
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Why this news matters:

  • The transaction would create a more diversified offshore services company combining drilling, marine geophysical and well-services capabilities under one corporate structure.

  • With a projected backlog of nearly $1.3 billion, the merger highlights continued confidence in offshore activity levels and long-term contract visibility.

 

Courtesy Ventura Offshore
SSV Victoria semisubmersible drilling rig

The SSV Victoria semisubmersible drilling rig is among the offshore assets managed by Ventura Offshore, which plans to merge with SED Energy Holdings.

SED Energy Holdings and Ventura Offshore Holding have provisionally agreed to a merger.

They have signed a letter of intent for an all-share combination, under which Energy Holdings would remain the listed parent company, with Ventura Offshore continuing as a dedicated deepwater drilling provider alongside Energy Drilling and SeaBird Exploration.

The enlarged group would have a contracted revenue backlog of about $1.3 billion. The transaction should close in first-quarter 2027, subject to the commencement of new contracts for certain rigs, shareholder and regulatory approvals, and the de-listing of Ventura Offshore from Oslo Euronext Growth.

Kurt M. Waldeland will continue as CEO of Energy Holdings, with Guilherme Coelho remaining as CEO of Ventura Offshore. Gunnar W. Eliassen will be nominated as chairman of the board.

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About the Author

Jeremy Beckman
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Jeremy Beckman

Staff Writer / Editor, Europe

Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.

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