Seadrill buys Prospector Offshore in $250M deal

Seadrill (SDRL) agrees to acquire Prospector Offshore, owner of the yard construction contract for the new-build, high-specification jack-up rig Prospector 3.

SDRL will pay $235M for the business; including drilling and handling tools, spares and operations penetrations will bring the total cost for the rig, ready to drill, to ~$250M.

SDRL says the lack of premium jack-up new-build activity over the past decade is beginning to be felt and demand currently exceeds supply, with the tightness in the market leading many operators to contract the units for increasingly longer terms.

From other sites
Comments (2)
  • Budavar
    , contributor
    Comments (1418) | Send Message
    SDRL up in Oslo...Now if we only could get a PR on a nice increase in the backlog, much smaller than rival RIG's.
    15 Nov 2013, 09:01 AM Reply Like
  • Mike Maher
    , contributor
    Comments (2867) | Send Message
    Wish someone would just buy VTG already
    15 Nov 2013, 09:32 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs