Drilling Instruments: News for Oil & Gas and Hydrocarbon Industries  Membership Services
Gulf Oil and Gas grow your business
Home News Events Projects Tenders Unconventionals Community | My Account
Products and vendors Services and providers Jobs

Seadrill Disposes of The Jack-Up Rig West Juno

Source: www.gulfoilandgas.com 4/13/2011, Location: Europe

Share |

Seadrill has entered into an agreement to sell the newly built jack-up drilling rig West Juno to an undisclosed buyer incorporated in UK for a total consideration of US$248.5 million.

Seadrill expects to record a gain on sale of approximately US$18 million on closing. Closing of the agreement and the transfer of ownership of the unit is scheduled upon completion of the rig's present drilling assignment late second quarter or early third quarter 2011. Seadrill expects to have an EBITDA contribution from the rig in the period up to closing of approximately US$6 million.

Alf C Thorkildsen, CEO of Seadrill Management AS, says, "We are continuously evaluating sale and purchase opportunities in order to maximize the long term return for our shareholders. This dynamic approach can from time to time lead to divestments and reallocation of capital. We have through the sale of West Juno at an attractive price been able to monetize the underlying strength of the jack up market. Although we remain optimistic on the market outlook for premium jack-up rigs, we have decided to relocate the proceeds to fund investment in other new unit as we since October 2010 have committed to investing US$4.7 billion in newbuildings."

Seadrill's fleet of jack-up rigs remains the world largest modern jack-up fleet with a total of 19 units built after 2006. Furthermore Seadrill has options for construction of further six units at attractive prices compared to going market prices.

Drilling Instruments >>

Drilling Instruments News in United Kingdom >>

Commodity Markets Investment
  Austria >>  12/18/2014 - Investment flows into commodities
The total open interest volume (OIV) in major US commodity markets increased slightly to 8.4 million co...

Shell Agrees Sale of Some Downstream Businesses in Norway
Norway >>  12/18/2014 - Shell has signed an agreement with ST1 for the sale of its retail, commercial fuels and supply and distribution logistics businesses in Norway. In add...

OPEC Reference Basket
  Austria >>  12/15/2014 - In November, the OPEC Reference Basket (ORB) ended 11% lower for the fifth month in a row, the longest period of monthly deterioration in almost 6 yea...
Oil Market Highlights - December 14
  Austria >>  12/11/2014 - Crude Oil Price Movements
The OPEC Reference Basket finished down $9.49 at $75.57/b in November, a mid increasing supplies and sluggish...


Review of 2014
  Austria >>  12/11/2014 - With 2014 coming to an end, a review of oil market developments since the initial forecasts can provide an indication of the likely way ahead in 2015....
Crude Oil Price Movements - December 14
  Austria >>  12/11/2014 - The OPEC Reference Basket (ORB) finished down 11% for November, the fifth straight month of declines. This is its longest losing streak since the 2008...



Related Categories: Analyzers, Gas  Calibration Equipment  Calibrators, Electronic, Pneumatic  Concentration  Conductivity Meters  Density  Detector, Gas  Dissolved Oxygen meters  Drilling Instruments  Float Switch  Gas meters  General  Indicators and Recorders  Leak Locators  Level meters  Liquid Measurement  Load cells  Monitoring & Control  Mud Control  Mud Logging  pH and REDOX  Pressure gauges/ Transmitters  Radiation Detection  SCADA Systems  Temperature gauges/ Transmitters  Thermocouples  Thermowells  Transducers  Transmitters  Transmitters, Pressure  Turbidity Meters  Viscosity  Weather Station  Weighing Equipment 

Related Articles: Analyzers, Gas  Calibration Equipment  Calibrators, Electronic, Pneumatic  Concentration  Density  Detector, Gas  Drilling Instruments  Float Switch  Gas meters  General  Indicators and Recorders  Leak Locators  Level meters  Liquid Measurement  Load cells  Monitoring & Control  Mud Control  Mud Logging  pH and REDOX  Pressure gauges/ Transmitters  Radiation Detection  SCADA Systems  Temperature gauges/ Transmitters  Thermocouples  Thermowells  Transducers  Transmitters  Transmitters, Pressure  Viscosity  Weather Station 


United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 |

More News

Oil & Gas Companies in United Kingdom >>

Related Links

Countries Quick Links

00 AT BE BG CH CY CZ DE DK ES FI FR GR HR HU IE IT NL NO PL RO SE SI TR UK
Gulf Oil and Gas B2B marketplace:   About -  Advertising -  Competitive Intelligence -  Talent Solutions -  Membership Services Follow us on Facebook
Copyright Universal Solutions All rights reserved. Privacy Policy. - Contact Us  Gulfoilandgas rss feed