Shelf Drilling expands rig fleet with Seadrill jackups

Seadrill has agreed to sell three jackups to Dubai-based Shelf Drilling for $225 million.

Offshore staff

HAMILTON, BermudaSeadrill has agreed to sell three jackups to Dubai-based Shelf Drilling for $225 million.

TheWest Triton and West Resolute are due to be delivered by the end of May and the West Mischief during 3Q, after completion of its current drilling contract with NDC offshore Abu Dhabi. 

Seadrill adds that debt outstanding on the three rigs is $102 million, providing excess sale proceeds of $123 million.

Shelf Drilling claims to be the world’s largest independent leg cantilever (ILC) jackup fleet contractor, with 36 ILC jackups and one swamp barge. It operates in shallow water regions in the Middle East, North Africa and Mediterranean, Southeast Asia, India, and West Africa.

The company’s main activity is development drilling and workovers on producing fields in water depths of up to 400 ft (122 m).

Recently the company took delivery of its second newbuild jackup, theShelf Drilling Krathong, which was due to depart Lamprell’s yard in Sharjah late last month for a contract for Chevron offshore Thailand.

Its first newbuild, theShelf Drilling Chaophraya, started operations for Chevron Thailand last December.

05/01/2017

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