Transocean to sell all jack-up fleet to Norwegian offshore drilling contractor, Borr Drilling

In our opinion, it is very interesting decision made by Transcoean to sell all jack-up fleets to Norwegian offshore drilling contractor, Borr Drilling. With current oil market situation, Transocan has made decision to stay only deep water drilling.

Please feel free to share your thought about this. 

News by Offshore Energy Today 

Norwegian offshore drilling contractor Borr Drilling, formerly known as Magni Drilling, is planning to buy 15 jack-up drilling rigs from Swiss-based Transocean for $1.35 billion.

Borr Drilling announced on Monday the signing of a letter of intent with Transocean for the acquisition of 15 high-specification jack-up rigs.

The transaction consists of Transocean’s entire jack-up fleet, including ten rigs already in the fleet and five newbuilds under construction at Keppel FELS Limited, which Transocean has been postponing for a while now. The latest agreement with Keppel entailed the deferral of the five new jack-ups until 2020. Continue reading

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