The Oslo-listed rig contractor had a cash holding of $69.5 million at year-end, down from $176.9 million at the end of 2012 as the jack-up newbuild programme at Dalian Shipbuilding Industry Offshore and Shanghai Waigaoqiao Shipbuilding (SWS) has drained its coffers.
Prospector is still seeking bank and other financing to take delivery of its next two rigs from SWS this year – the Prospector 5 chartered to Total that is due to be delivered in the second quarter and one more in the third quarter.
The
