Notes

The Of Malaysia's Coastal Contracts seals $224m jack-up rig sale


<h1 style="clear:both" id="content-section-0">The Definitive Guide to - Seadrill sells the jack-up rig West - Europétrole - Euro-petrole<br></h1>
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<p class="p__0">If you can not find the new or utilized overseas rigs of any type, size or make that you are trying to find, please send us an email to and we will offer you.</p>
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<p class="p__1">Image: The Jack-up Transocean Constellation II. New about Transocean Ltd. (NYSE:RIG) The overseas drilling Industry is suffering through the worst bear cycle in history. The oil crash that started late in 2014 has had a terrible effect especially on the offshore drilling players such as Transocean, Seadrill (NYSE:SDRL), Rowan Business (NYSE:RDC), Ensco Plc.</p>
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<p class="p__2">Subsequently, competition is naturally ending up being fiercer, because the overseas jack-up market (shallow waters) and the overseas floater market are oversupplied by a wide variety of rigs, contemporary and old, that complete versus each other for an extremely restricted quantity of agreements at low day rate, typically close to breakeven level. Related Source Here is the uncontested leader in the deep water sector (floaters) with a remarkable backlog approximated at over $10.</p>
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<p class="p__3">Today, this article is about the jack-up part of Transocean which might be divested to Borr Drilling, a new company formed in Norway. We discovered on Friday by Evercore ISI's James West and team, who were commenting about a news initially announced by Tradewinds: We kept in mind in our Recap and Weekly that Borr Drilling was apparently thinking about buying Transocean's jackup fleet.</p>
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<h1 style="clear:both" id="content-section-1">The Single Strategy To Use For Keppel Explores Sale Of Jack-Up Rigs To Borr Drilling<br></h1>
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<p class="p__4">2 billion offer to obtain a fleet of 15 RIG jackups. The potential deal would entail Transocean's whole active fleet of 10 high-specification jack-ups, plus another 5 newbuilds under building and construction at Singapore's Keppel FELS, for an overall cost of $1. 2 billion. Another $1. 125 billion is due on the 5 newbuilds, which would be presumed by Borr Drilling as these rigs have actually been postponed until 2020.</p>
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<p class="p__5">Half of Transocean's active jack-up fleet is presently stacked while the other half is contracted for 38 rig months (average 7. 6 months per rig) for $172 million in backlog (just 1. 5% of RIG's total $11. 3 billion). [note from Enjoyable trading: stockpile 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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