Maersk Drilling Acquires Newbuild Jackup from Hercules Offshore for $190M

Maersk Drilling reported Friday that the company has acquired a newbuild harsh environment jackup, formerly named Hercules Highlander (400' ILC), from a subsidiary of Hercules Offshore, with the rig immediately delivered from Jurong Shipyard Pte Ltd. in Singapore. 

Under the transaction, Maersk Drilling will pay the final payment of approximately $190 million to Jurong Shipyard. Upon delivery, Hercules Highlander will mobilize to the North Sea to commence a five-year drilling contract, worth $420 million and including a mobilization fee of $9 million, with Maersk Oil and its partners, BP plc and JX Nippon Oil & Energy Corp., on the Culzean gas field offshore UK.

“This agreement represents an opportunity for Maersk Drilling to acquire a newbuild harsh environment jackup backed by a firm long-term contract. We look forward to working with Maersk Oil and its partners on the Culzean gas field,” Maersk Drilling CEO and member of the Executive Board in the Maersk Group Claus V. Hemmingsen said in the press release.

The Friede & Goldman JU2000E jackup, equipped to drill up to 30,000 feet and with HPHT (High Pressure High Temperature) capabilities, can accommodate up to 150 personnel. 

The jackup will be renamed Maersk Highlander and became the company's 23rd rig after the acquisition. Maersk Drilling has an additional harsh environment jackup under construction.