AD 30 (Arabian Drilling) (Jackup)

Seadrill dispose of the jack-up rig West Ceres

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03 July 2009

Seadrill has today exercised its right to repurchase the jack-up drilling rig West Ceres from a subsidiary of Ship Finance International Ltd, for the pre-agreed price of US$135.5 million. Furthermore, Seadrill has subsequently entered into a memorandum of agreement to sell the jack-up rig to a reputable Middle East drilling company for a consideration of US$175 million plus an additional US$ 3 million for inventory related to West Ceres. Seadrill is expected to record a gain on sale of approximately US$20 million in the third quarter 2009. Closing of the agreement and transfer of ownership of the unit is scheduled to early July 2009. West Ceres is presently unemployed and is located offshore Ghana in West Africa.

Source: http://www.seadrill.com/modules/module_123/proxy.asp?C=42&I=2104&D=2&mid=179


More News for Operator: Arabian Drilling

1 Oct 2013

Clearwater re-enters jackup market with order for two newbuild units

Keppel FELS has won a repeat order for the construction of two KFELS B Class jackup rigs in Singapore. The newbuilds have been ordered by Clearwater Capital Partners who previously placed an order with the shipyard for two KFELS Mod V B rigs in December 2010, before selling the units to Standard Drilling. Clearwater’s two newbuild rigs are expected to be delivered in Q4 2015 and Q1 2016 for a combined price of US$440 million and are capable of operating in 400ft of water whilst drilling to 30,000ft.

27 Dec 2013

Keppel FELS delivers 'AD 60' jackup rig to Arabian Drilling Company

Keppel FELS Ltd (Keppel) has announced delivery of the ‘AD 60’, a KFELS B class designed jackup rig to the Arabian Drilling Company (ADC). The ‘AD 60’ was delivered five days ahead of schedule and is the 21st rig to be delivered by Keppel in 2013 marking a new record number of rig deliveries by a company in a single year. ADC will now mobilise the ‘AD 60’ jackup to Saudi Arabia where it will begin a contract working for Saudi Aramco. The unit is the fifth jackup in ADC’s offshore drilling fleet and is the second KFELS B class unit delivered to the company following the delivery of the ‘AD 50’ jackup in June 2013, which was also constructed by Keppel.

29 May 2014

Arabian Drilling snap up under construction jackup

Clearwater Capital Partners, LLC (Clearwater), through an entity wholly owned by private investment funds managed by Clearwater, has completed the sale of a Keppel FELS B Class jackup rig with hull number B351 to Arabian Drilling Company (ADC). Mr. Mohamed Yusof Al-Rafie, Chairman of ADC said, “We are pleased to announce the purchase of B351. It will be the fourth rig of KFELS B Class in ADC’s offshore fleet. Together with the current high specification jackups, this purchase will enable us to offer Saudi Aramco and Al-Khafji Joint operations (AGOC/ KGOC) productive, safe and cost efficient drilling operations. Dr. Yao Chye Chiang, Chief Operating Officer of Clearwater said, “We are pleased to announce the sale of the B351 jackup rig to ADC. This is the first rig of the two rig order we placed with Keppel in late 2013 and provides a substantial return on investment for Clearwater. “The Keppel FELS B Class is a proven design which has been the rig of choice for leading oil companies in the industry. Our strategy of building proven design rigs and partnering with the world’s leading rig builder has served us well. “We continue to see strong demand for new high specification jack up rigs as the industry continues its rig replacement trend including significant demand from the Middle East for premium equipment where the upgrading of Saudi Aramco’s jackup fleet remains a key driver.” The sale of the B351 unit to ADC leaves Clearwater with one further under construction jackup rig at Keppel in Singapore, with delivery slated for 2016. This is the second time Clearwater has sold under construction jackup rigs, following on from its sale of four units to Norway based Standard Drilling (SD) in early 2011. SD then proceeded to sell the units onto other rig operators.

28 Oct 2015

Keppel FELS delivers eighth rig of the year safely and on time

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered ARABDRILL 70, a KFELS B Class jackup rig, to Arabian Drilling Company (ADC). It was completed three days ahead of schedule, on budget and with a perfect safety record. ARABDRILL 70 is the fourth KFELS B Class jackup rig to work for ADC.

28 Oct 2015

Keppel FELS delivers eighth rig of the year safely and on time

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered ARABDRILL 70, a KFELS B Class jackup rig, to Arabian Drilling Company (ADC). It was completed three days ahead of schedule, on budget and with a perfect safety record. ARABDRILL 70 is the fourth KFELS B Class jackup rig to work for ADC.

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