Pride International Completes Sale of Its Tender-Assist Fleet
Monday, February 25, 2008
Pride International, Inc. reported that the company has completed the previously announced sale of its three self-erecting, tender-assist rigs, the Al Baraka I, Alligator and Barracuda, for $213 million in cash. Proceeds from the sale are expected to be utilized for general corporate and strategic purposes, including potential funding for the construction of the company's three ultra-deepwater drillships and other future growth opportunities.
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