Standard Drilling Signs MoU to Sell Jackups
Standard Drilling ASA has signed a Memorandum of Understanding (MoU) with an international offshore drilling contractor to sell the 100% owned jackup rig L 202 and entered into an option to sell the 100% owned jackup rig L 204.
The agreed transaction price for L 202 is US $215 million and the option price for L 204 is US $185 million. The option expires after 120 days. The transaction is subject to buyers due diligence and board approval by both parties.
A final agreement is expected before end of the third quarter.
- PCPP Nixes Drilling Contract for Naga 2 Jackup Offshore Sarawak (Jul 07)
- Standard Drilling Elects Rune Steen as New CEO in Singapore (May 27)
- UMW, Standard JV Inks 3-Year Deal with PCPP for NAGA 2's Services (Aug 12)