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Tuesday, 07 October, 2008, 14:40 GMT | more prices >>

Seadrill ties up West Aquarius gig



By Upstream staff 

Norwegian rig player Seadrill has lined up work for its newbuild semi-submersible rig West Aquarius, which is being built at the Daewoo Shipyard in South Korea.

Seadrill said it had signed a letter of intent with an unnamed company for a three-year contract worth about $570 million.

It said the deal was still awaiting final terms and board approvals.

The West Aquarius is due for delivery in the third quarter of next year.

Meanwhile, Seadrill said it was considering a private placement of about 7 million of its private shares to fund further rig building.

The company said it aimed to raise $150 million through the placement to pay for newbuilds, including a new drillship on conditional order from a South Korean yard and due for delivery in 2010.

Seadrill said it was also building three other deep-water rigs, which would be available for assignments before 2010.


Tuesday, 10 July, 2007, 18:10 GMT  | last updated: Wednesday, 11 July, 2007, 08:20 GMT

Hired: Seadrill said it has signed a letter of intent for use of its new West Aquarius rig
 

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