Notes

The Borr Drilling Limited – Sale of two standard jack-up drilling rigs Ideas


<h1 style="clear:both" id="content-section-0">Our Jackup rigs for charter, Offshore Rigs brokers - Pinterest Diaries<br></h1>
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<p class="p__0">If you can not discover the new or used offshore rigs of any type, size or make that you are looking for, please send us an e-mail to and we shall provide you.</p>
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<p class="p__1">Image: The Jack-up Transocean Constellation II. New about Transocean Ltd. ( Reference :RIG) The overseas drilling Market is suffering through the worst bear cycle in history. The oil crash that began late in 2014 has actually had a dreadful impact especially on the overseas drilling gamers such as Transocean, Seadrill (NYSE:SDRL), Rowan Companies (NYSE:RDC), Ensco Plc.</p>
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<p class="p__2">Subsequently, competitors is naturally ending up being fiercer, because the overseas jack-up market (shallow waters) and the offshore floater market are oversupplied by a multitude of rigs, contemporary and old, that compete versus each other for a really minimal quantity of contracts at low day rate, often near to breakeven level. Transocean is the uncontested leader in the deep water sector (floaters) with an excellent stockpile estimated at over $10.</p>
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<p class="p__3">Today, this post is about the jack-up part of Transocean which might be divested to Borr Drilling, a new business formed in Norway. We learned on Friday by Evercore ISI's James West and group, who were commenting about a news initially announced by Tradewinds: We noted in our Recap and Weekly that Borr Drilling was supposedly thinking about purchasing Transocean's jackup fleet.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://467222-1467340-raikfcquaxqncofqfm.stackpathdns.com/wp-content/uploads/2015/03/Northern-Offshore-Endeavor1-696x470.jpg" alt="Where oil rigs go to die - Oil - The Guardian"><span style="display:none" itemprop="caption">Transocean sells jack-up rig fleet to Borr Drilling - Houston Business Journal</span>
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<h1 style="clear:both" id="content-section-1">Jackup Rig 300 foot WD Can Be Fun For Everyone<br></h1>
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<p class="p__4">2 billion deal to acquire a fleet of 15 RIG jackups. The possible deal would involve Transocean's entire active fleet of 10 high-specification jack-ups, plus another 5 newbuilds under building at Singapore's Keppel FELS, for a total rate of $1. 2 billion. Another $1. 125 billion is due on the 5 newbuilds, which would be assumed by Borr Drilling as these rigs have actually been deferred up until 2020.</p>
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<p class="p__5">Half of Transocean's active jack-up fleet is currently stacked while the other half is contracted for 38 rig months (average 7. 6 months per rig) for $172 million in backlog (only 1. 5% of RIG's overall $11. 3 billion). [note from Fun trading: backlog is now $10. 8 billion and JU backlog represents $161 million] We would be aggressive buyers of Transocean if this transaction emerges, as it would generate income from an under-utilized jack-up fleet that averages 13.</p>
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