Smedvig ASA Company News

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Well Plugging Starts in Pioneering North Sea Field
Tuesday, February 23, 2021Plugging operations began last month in conjunction with the planned shutdown of the Veslefrikk field. PHOTO SOURCE: Øyvind Hagen/Equinor

Seadrill Takes a Financial Hit from Contractor Investments
Monday, February 23, 2009After identifying losses of $687 million from investments in offshore drilling contractors, Seadrill will in its fourth quarter 2008 income statement recognize a loss of $35 million.

Endeavour Enters $40 Million Strategic Investment with Smedvig
Wednesday, December 26, 2007"This is a significant step forward in the improvement of the capital structure for Endeavour. We expect to use the initial Smedvig Family funding to pay down higher cost debt and lower the company's overall cost of capital...."

Smedvig is History, from Today It's Seadrill
Thursday, June 01, 2006After more than 30 years' service with drilling operations all over the world, the Smedvig name is disappearing. Smedvig and Seadrill have been merged into one company.

SeaDrill: Compulsory Acquisition and Delisting of Smedvig ASA
Thursday, April 20, 2006The Board of SeaDrill Limited has recently met and discussed the organization and strategy of the SeaDrill Group's activities following its successful acquisition of Smedvig.

SeaDrill Completes Smedvig Takeover
Monday, April 03, 2006After the expiry of the Offer period, SeaDrill Limited has received acceptances for a total of 25,261,260 class A-shares and 10,024,309 class B-shares, equaling 47.0% of the Smedvig asa votes and 35.8% of the Smedvig capital.

Smedvig Secures Extension for T-3 in Thailand
Wednesday, March 29, 2006The T-3 has received a contract extension from PTTEP for work in the Gulf of Thailand through June 2012.

SeaDrill Launches Smedvig Tender Offer in US
Tuesday, March 28, 2006SeaDrill is offering to buy all Class A Ordinary Shares, Class A American Depositary Shares, Class B Ordinary Shares, and Class B American Depositary Shares of the Norwegian drilling contractor Smedvig.

Smedvig Takes Neutral Stance on SeaDrill Offer
Monday, March 20, 2006The independent committee established to evaluate SeaDrill's offer to buy outstanding shares of Smedvig has decided to remain neutral to the offer and not make any recommendations to shareholders.

SeaDrill Begins U.S. Tender Offer for Outstanding Smedvig Shares
Monday, March 06, 2006SeaDrill has commenced a tender offer in the United States for all Class A Ordinary Shares, Class A American Depositary Shares, Class B Ordinary Shares and Class B American Depositary Shares of Smedvig ASA.

Smedvig to Supervise Construction of SeaDrill Newbuild Units
Thursday, February 23, 2006Smedvig has entered into an agreement with SeaDrill Limited for construction supervision and marketing of four semisubmersible drilling units currently under construction in Singapore and South Korea.

SeaDrill Awaiting Approval of Mandatory Offer on Smedvig Shares
Monday, February 20, 2006SeaDrill has submitted a mandatory offer document to the Oslo Stock Exchange but the approval process has not yet been completed. The mandatory offer is expected commence without delay after the final approval of the documentation.

Smedvig Reports Preliminary Results for 2005
Thursday, February 16, 2006Smedvig reports preliminary operating profit for 2005 of NOK 1,272 million as compared to NOK 624 million in the previous year.

Three Year Assignment for West E-drill
Monday, February 06, 2006Smedvig has, as manager for Eastern Drilling ASA, obtained a letter of intent by a reputable operator for the assignment of the 6th generation semisubmersible drilling unit, West E-drill.

SeaDrill Scoops Up Smedvig
Friday, January 20, 2006SeaDrill says, based on acceptances received under the Voluntary Offer on Smedvig, that it has control of more than 50% of the SME (A-class shares) and therefore more than 50% of the total number of votes in Smedvig.

Halt in Operations for West Navigator
Tuesday, January 17, 2006Smedvig's West Navigator has experienced a 10-day halt in operations due to repair work on the unit's blow out preventer (BOP).

Smedvig to Build New Tender Rig in Southeast Asia
Tuesday, January 17, 2006Smedvig has entered into an agreement with Malaysia Marine & Heavy Engineering Sdn Bnd in South Malaysia for the purpose of building a new self erecting tender rig, T-10.

Smedvig Lands New Contract for Teknik Berkat
Tuesday, January 17, 2006Smedvig has been awarded a new contract by Carigali Triton for the tender rig Teknik Berkat.

Smedvig Board Recommends Shareholders Accept SeaDrill's Offer
Thursday, January 12, 2006The Smedvig Board of Directors unanimously recommends the shareholders to accept SeaDrill Limited's voluntary offer to acquire all outstanding shares.

SeaDrill Extends Offer Period for Smedvig Shares
Tuesday, January 10, 2006SeaDrill Limited said on January 9, 2006 that it would make an offer for outstanding shares in Smedvig ASA.

SeaDrill Makes Voluntary Offer for All Outstanding Shares in Smedvig
Monday, January 09, 2006SeaDrill Limited announces a voluntary offer for all the outstanding shares in Smedvig ASA.

Smedvig Announces Conditional Sale of Own A Shares
Monday, January 09, 2006Smedvig has accepted a conditional offer to sell to SeaDrill Limited 1,025,000 of own Class A shares, on the basis that all shareholders are receiving an offer.

SeaDrill Drops Plans for Smedvig Takeover
Friday, January 06, 2006SeaDrill has sought to establish whether or not it is possible to gather a satisfactory level of pre-acceptances for a voluntary offer for Smedvig ASA.

SeaDrill Extends Potential Voluntary Offer
Thursday, January 05, 2006SeaDrill has in a notice to the Oslo Stock Exchange January 4, 2006 notified the market that it is seeking to establish whether or not it is possible to gather pre-acceptances for a voluntary offer from 1/3 of the capital or votes in Smedvig ASA.

SeaDrill Looking to Acquire Outstanding Shares in Smedvig
Wednesday, January 04, 2006SeaDrill Limited has asked Carnegie, Enskilda and Fondsfinans to establish whether or not it is possible to gather pre-acceptances for a voluntary offer from 1/3 of the capital or votes in Smedvig ASA.

Noble Reiterates Prior Statement Regarding an Offer for Smedvig ASA
Thursday, December 29, 2005Noble Corporation reiterates the December 19, 2005 statement of its plans in regard to an offer for the shares of Smedvig ASA.

Smedvig Secures Contract Extension for West Menang
Tuesday, December 27, 2005Smedvig has been awarded a contract by Total Congo to extend the production drilling contract for the self-erecting semi-tender rig West Menang.

Noble Completes Smedvig Share Purchase
Friday, December 23, 2005Noble Corporation has completed the purchase of 21,095,600 Class A shares and 2,501,374 Class B shares of Smedvig ASA for an aggregate purchase price of NOK 4,594,326,100.

Noble Corp. Clarifies Media Statements Regarding Offer for Smedvig ASA
Monday, December 19, 2005Noble Corporation clarifies a report published in the Norwegian media to the effect that the Company will launch an offer shortly to purchase Smedvig ASA.

Total Extends Contract with T-8 Offshore Congo
Friday, December 16, 2005Smedvig has been awarded a contract by Total Congo to extend the production drilling contract for the self-erecting tender rig T-8.

Weekly Offshore Rig Review: The Urge to Merge
Thursday, December 15, 2005This week's utilization analysis focuses on the recent trend of acquisitions among offshore drilling contractors, including Noble's purchase of a 29.8% stake in Smedvig.

Noble Corporation to Purchase Shares of Smedvig ASA
Tuesday, December 13, 2005Noble Corporation has entered a share purchase agreement with Peter T. Smedvig and members of his family and entities he controls to purchase (directly and indirectly) 21,095,600 Class A shares and 2,501,374 Class B shares of Smedvig ASA.

Smedvig Sells Ownership Share in Roxar
Monday, December 05, 2005Lisme, in which Smedvig owns 44 percent, has entered into an agreement to sell the subsidiary Roxar to FlowInvest Acquisitions AS, a company within the Arcapita Group.

Smedvig Lands Long Term Contract from Chevron for the T-7
Friday, December 02, 2005Smedvig has been awarded a letter of intent by Chevron Thailand Exploration and Production Ltd for production drilling offshore Thailand with the self-erecting tender rig T-7.

Smedvig Secures New Contract for T-6 and Teknik Berkat
Thursday, November 17, 2005The self-erecting tender rigs T-6 and Teknik Berkat have been awarded a letter of intent by Petronas Carigali Sdn. Bhd. in Malaysia.

Norsk Hydro Gets OK to Use West Venture for Troll Production Wells
Friday, November 04, 2005The Norwegian Petroleum Safety Authority has granted Norsk Hydro consent to use the West Venture semisub for production drilling on Troll. The activity will continue until September 2007.

Ormen Lange Drilling Has Started
Tuesday, November 01, 2005Smedvig's West Navigator has started drilling the first eight production wells on the Ormen Lange field 120 kilometers northwest of Kristiansund.

Smedvig Reports Third Quarter 2005 Results
Monday, October 24, 2005Smedvig reported consolidated operating profit for the third quarter of NOK 194 million, as compared to NOK 474 million in the previous quarter.

Smedvig Increases Ownership Stake in Eastern Drilling
Friday, September 23, 2005Smedvig has purchased 2,950,000 shares in Eastern Drilling ASA at a price of NOK 95 per share. The investment represents an increase in Smedvig's ownership interest in the company from 25 percent to 39.75 percent.

PSA Gives Okay to Use West Navigator on Ormen Lange
Friday, September 23, 2005The Petroleum Safety Authority Norway (PSA) has granted Norsk Hydro its consent to use the West Navigator for production drilling and completion of wells on Ormen Lange.

Smedvig Secures Extension for T-3 in Thailand
Friday, September 09, 2005Smedvig's tender rig T-3 has been awarded an extension contract extension by PTT in Thailand.

Transocean Submits Writ Against Smedvig
Tuesday, September 06, 2005Smedvig has received a writ from Transocean Offshore Deepwater Drilling Inc. In the writ Transocean demands that Smedvig is prohibited from applying simultaneous operations in offshore drilling activities.

Smedvig Reports Increased Operating Profit for Second Quarter 2005
Wednesday, August 10, 2005Smedvig reported consolidated operating profit for the second quarter of NOK 474 million as compared to NOK 69 million in the previous quarter.

DNV to Class World's Biggest Semisub
Tuesday, August 09, 2005DNV has been contracted to class the new 6th generation semisubmersible drilling rig. When complete in 2007, Eastern Drilling 1 will be the largest of its kind ever built.

Keppel Delivers West Setia to Smedvig
Tuesday, August 02, 2005Keppel FELS has delivered the latest semisubmersible drilling tender, West Setia, to Smedvig Tender Rigs Pte Ltd on August 2, 2005.

Smedvig Secures New Contract for T-9 in Malaysia
Monday, August 01, 2005Smedvig's T-9 has been awarded a three-year contract extension by ExxonMobil in Malaysia for production drilling work.

Shell Brunei Extends West Setia Contract
Wednesday, July 13, 2005Shell Brunei has extended the production drilling contract for the new self-erecting semi-tender rig West Setia, which is under construction in Singapore.

Smedvig to Acquire Keppel's Stake in West Setia
Thursday, June 30, 2005Smedvig has informed Keppel FELS in Singapore of its intention to exercise the Company's option to purchase the shipyard's 72 percent ownership interest in the semisubmersible tender rig West Setia, which is under construction.

New Boost for Advanced Aker Kvaerner Drilling Systems
Thursday, June 16, 2005Aker Kvaerner has signed a contract with Samsung Heavy Industries in Korea for delivery of an advanced dual drilling system to a new semisubmersible drilling platform to Eastern Drilling.

Smedvig Increases Ownership in Eastern Drilling
Tuesday, June 07, 2005Smedvig has increased the investment in Eastern Drilling ASA from US $27.5 million to US $50 million, which represents an increase in ownership interest in the company from 10 percent to 25 percent.