Ocean Rig to Buy Stake in Eastern Drilling
Ocean Rig confirmed Thursday that it has placed a conditional offer to buy shares of Eastern Drilling (EDRILL).
Ocean Rig said that it placed an order Thursday morning with investment bank ABG Sundal Collier to acquire a sufficient number of shares in EDRILL so that, together with convertibles bonds, the company would own at least 50 percent of the fully diluted EDRILL shares at NOK 130 (US$20.13) per share. The Stavanger, Norway-based drilling contractor extended the offer until Friday morning.
Ocean Rig owns and operates two drilling rigs built for ultra-deep waters and extreme weather conditions. The units are currently operating offshore Congo and Norway.
Manages 13 Offshore Rigs
- Avenue Capital Urges Ocean Rig To Hire Advisers (Oct 17)
- Rig Contractor Ocean RIG Files For Bankruptcy Protection In US (Mar 28)
- Ocean Rig Acquires an Ultra Deepwater Drillship for $65M (Apr 27)
Company: Eastern Drilling ASA more info
- Eastern Drilling Moves to Delist from Oslo Exchange (Jun 08)
- Seadrill Now Controls Nearly All Eastern Shares, Votes (May 21)
- Seadrill Ups Stake in Eastern Drilling (May 16)