Smedvig Increases Ownership Stake in Eastern Drilling

Smedvig 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. In total, Smedvig has invested approximately US $100 million in Eastern Drilling.

The investment is made in relation to the construction of a new 6th generation semisubmersible where Smedvig is responsible for the construction supervision, marketing and later operations management.

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