PetroJack Resumes Marketing of Jackups
Following Wednesday's expiration of the its marketing and purchase option agreement with Transocean, PetroJack announced that Transocean has not indicated an intent to purchase the PetroJack I, II, and/or III jackup rigs.
PetroJack--through its manager, Larsen Oil and Gas--has since resumed the sole right to market the three jackups and to talk to potential charterers and buyers for the allocation/disposition of the rigs. The rigs are under construction in Singapore.
PetroJack contends that the market--in terms of both asset value predictions and operations day rates--has improved significantly since it signed the agreement with Transocean this past January. The market outlook (external evaluation) reportedly predicts that long-term (2-5) contracts at US$180,000 per day or more are achievable within the near future.
According to PetroJack, Transocean carried out a full due diligence of the company and considered the rigs technically and operationally suitable. The three jackups have delivery dates of March 2007, January 2008, and June 2008. They reportedly are on schedule to be delivered on or before these dates.
Manages 46 Offshore Rigs
- Oil's Biggest Rigs Headed to Junkyard as Daily Losses Mount (Oct 18)
- Transocean To Buy Norwegian Rig Firm Songa Offshore For $1.1B (Aug 15)
- Borr Drilling Signs Deal With Transocean to Buy 15 Rigs (Mar 20)
Company: Petrojack AS more info
- Petrojack Files for Bankruptcy in Oslo Court (Mar 08)
- Analysis: SE Asia Rig Market Challenged, But Construction Continues (Nov 06)
- Petrojack IV Takes Delivery, Ready for PTTEP's Operations (Jan 23)