CJ50 Jack-up

Transocean rig sale to Borr Drilling - CNBC Fundamentals Explained

On January 30, 2017, we learned from Offshore, Energy, Today the following: U.S.-based Dleif Drilling has turned down a deal made by Borr Drilling, formerly understood as Magni Drilling, for the sale of the drillship Serto. Dleif received the offer for the drillship in November 2016 from the then Magni Drilling.

The new use for abandoned oil rigs - BBC Future

The sixth generation deepwater drillship (2012) utilized to be owned by the Brazilian bankrupted, Schahin Group and was under long-term charter with the state-owned oil giant Petrobras. The drillship worked on the Libra field together with Scahin's other drillship, Cerrado, which was purchased an auction by Ocean Rig in April 2016 for $65 million.

This is a considerable news for Transocean, due to the fact that the business will divest its entire non-core jack-up fleet, including its five jack-ups under-construction. Related Source Here can run deep into RIG balance sheet and it is essential to evaluate this major relocation in details. For the ones who wish to refresh their memory, it is very important to read my post about the 4Q' 16.

How Do Jackups Work? - Rigzone

The Ultimate Guide To Used jack up rigs for sale - construction equipment - Mascus

First, Transocean will end up being a "deepwater gamer" specifically, which will not affect substantially incomes. Fleet Operating Stats for 2016 per Quarter. Section 4Q '16 $ million 3Q '16 $ million 2Q '16 $ million 1Q '16 $ million UDW 560 583 556 621 HE Floaters 100 103 100 181 Deepwater 35 43 51 85 Midwater 30 87 133 138 HS JU 66 66 74 82 Termination fee 169 9 9 4 Contract intangible 2 4 4 209 Customer Reimbursable 12 11 16 21 Total in$ million 974 906 943 1,341 As we can see, RIG 2016 earnings were $ 4,164 million and earnings from HS jack-ups were $288 million( $526 million in 2015), representing. RIG ended 2016 with a cash and cash equivalent of $3. 052 billion and a long term financial obligation of $7. 5 billion (Total debt$ 8. 546 billion ). Cap, Ex 2016 was $ 1. 344 billion. M. Marc Mey, CFO, stated in the last conference call: Capital expenditures in 2017 are prepared for to be roughly$ 500 million. In 2018, we expect Cap, Ex of roughly$ 325 million. This consists of approximately $100 million in
newbuild Cap, Ex and $245 million for maintenance and other Cap, Ex. Second, by monetizing its non-core Jack-up fleet, RIG will save a significant amount of Cap, Ex in 2020-2021 and probably a reasonable quantity of headache too. 1 billion. The rigs are set up to be provided progressively from 1Q 2016 to 3Q 2017. Transocean already paid $290 million.