Norway’s Dolphin Drilling is to attempt once again to sell its drillship Bolette Dolphin after bringing on board a partner to secure its financial future, write Ole Ketil Helgesen and Steve Marshall.
The Oslo-listed rig owner, formerly known as Fred Olsen Energy, has received the backing of investment company Strategic Value Partners (SVPGlobal).
SVPGlobal said it has successfully reached an agreement for the reorganisation and recapitalisation with a majority of Dolphin’s lenders, including funds managed by itself, holding more than 78% of outstanding debt under a $2 billion secured credit facility.
