Shelf Drilling buys Diamond Offshore jackup

Shelf Drilling Ltd. has entered into a definitive agreement with subsidiaries of Diamond Offshore to purchase the jackup Ocean Scepter.

Offshore staff

DUBAI, UAEShelf Drilling Ltd. has entered into a definitive agreement with subsidiaries of Diamond Offshore to purchase the Ocean Scepter jackup drilling rig.

The total cost for the rig (including the purchase price, the expected costs for the planned reactivation, and mobilization of the rig for its intended purpose) is expected to be about $90 million.

Built in 2008, theOcean Scepter is of the KFELS Mod Super B design. The premium high-spec jackup rig is currently located in the US Gulf of Mexico. Upon delivery, the rig will be mobilized to the Middle East.

The transaction is subject to customary closing conditions, and the rig is expected to be delivered during 3Q 2018. Upon delivery, Shelf’s total shallow water rig count will increase from 39 rigs to 40 rigs.

07/02/2018

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