Offshore staff
HAMILTON, Bermuda—Seadrill has completed the sale of entities in Saudi Arabia that own and operate seven jackups to subsidiaries of ADES Arabia Holding.
ADES now owns the AOD I, AOD II, AOD III, West Callisto, West Ariel, West Cressida and West Leda, and it also employs the crews operating the rigs, in addition to holding the rigs’ drilling contracts.
Total consideration for the sale is up to $628 million, subject to adjustments and reimbursement to Seadrill for any costs related to the reactivation of the West Ariel, West Cressida and West Leda stacked jackups.
Seadrill confirmed it would direct the proceeds to improving its balance sheet and eliminating outstanding capex for the reactivation rigs.
10.19.2022
