Neptune Marine Completes Semisub Acquisition

Neptune Marine Oil & Gas has completed the previously announced acquisition of the Sedco 708 semisub. The transaction was finalized on April 24, 2008 through its wholly owned subsidiary, Neptune Finder Pte Ltd and the rig has been renamed Neptune Finder.

The acquisition was funded by a loan of US$70 million from the Company's major shareholder, Jasper Investments Limited. The Company intends to undertake a rights issue to repay the loan and to partially fund the upgrading of the Neptune Finder.

Opportunities for a long term contract are currently being evaluated for the rig.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Junior-Level Mechanical HVAC Design / Energy Audit Engineer
Expertise: HVAC|Mechanical Engineering
Location: San Antonio, TX
 
Energy Engineer
Expertise: Mechanical Engineering
Location: Gainesville, FL
 
Electrician Apprentice 1st Year- Hobbs, NM Job
Expertise: Electrician
Location: Hobbs, NM
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours