Jack Ups News

 

Shelf Drilling to Consolidate Jack-Up Fleet and Resolve Funding Gaps via Triangular Merger

Sep 16, 2024

UAE-based offshore drilling firm Shelf Drilling (SHLF) has initiated a business consolidation plan via triangular merger between its indirect subsidiary SHLF MergCo, Shelf Drilling North Sea (SDNS), as the surviving entity in the proposed merger, and SHLF as the issuer of the merger consideration shares.The combination will fully consolidate SHLF’s jack-up fleet, solve the previously disclosed funding…

Shelf Drilling Finalizes Baltic Rig Sale

Sep 23, 2024

Offshore drilling contractor Shelf Drilling has closed the sale of its Baltic jack-up rig for $60 million with an undisclosed client.Shelf Drilling said the buyer intends to deploy the rig on a multi-year, plug and abandonment (P&A) program in Malaysia…

ADES Buys Two Jack-Ups from Vantage Drilling in $190M Deal

Sep 09, 2024

Saudi oil and gas driller ADES Holding has acquired two premium jack-up drilling rigs from Vantage Drilling, contracted in Southeast Asia, for $190 million.The transaction encompasses the direct asset acquisition of the Topaz jack-up rig, contracted…

Shelf Drilling Sells Baltic Jack-Up Rig

Jul 30, 2024

Offshore drilling contractor Shelf Drilling has signed an agreement for the sale of Baltic jack-up rig for $60 million with an undisclosed client.The buyer intends to deploy the rig on a multi-year, plug and abandonment (P&A) program in Southeast Asia…

Borr Drilling Scoops $332M in Three Jack-Up Rig Contracts

Jul 26, 2024

Offshore drilling contractor Borr Drilling has secured contracts for three of its premium jack-up drilling rigs, which will be put to work in Brazil, Malaysia and Gabon.These contract and extensions for Borr Drilling’s Arabia I, Gunnlod and Norve jack-ups cover a total of 1…

ABL Helps Shelter 45 ONGC Rigs Ahead of Storm

May 29, 2024

India’s Oil and Natural Gas Corporation Limited (ONGC), supported by ABL as tow master and marine warranty provider, has moved a record high 45 drilling rigs to new locations ahead of the Indian monsoon season.The 45 rig moves of jack-up rigs…

ADES Holding Signs $94M Jack-Up Rig Deal with PTTEP

May 14, 2024

Saudi oil and gas drilling contractor ADES Holding has signed a contract with Thai national oil and gas company PTTEP for one of its modern jack-up drilling rigs, worth $94 million.The contract, signed on May 14, 2024, is for an 18-month firm term plus a nine-month optional extension…

Energy Storage on O&G Platforms - A Safety Boost, too?

Apr 19, 2024

The fuel savings gained by installing energy storage systems on oil and gas platforms are significant, but it’s the safe-ty benefits that might overcome what has been a relatively slow uptake of late.Industry lore has it that drilling rigs say…

Borr Drilling Nets Close to $160M in Fresh Contracts for Three Jack-Ups

Apr 09, 2024

Offshore drilling contractor Borr Drilling has secured work for three of its premium jack-up rigs, bringing in $158.6 million to the company.The new contracts are for the Prospector 1, Gunnlod, and a rig to be determined.  The commitments total 820 days and $158…

Petronas Books Three Velesto’s Jack-Up Rigs

Mar 26, 2024

Petronas Carigali (PCSB), a subsidiary of Malaysian state-owned energy company Petronas, has booked three jack-up rigs from Velesto for drilling operations off the coast of Malaysia.The contract with Petrobras is for three Velesto’s jack-ups – Naga 2…

Are North Sea Jack-Ups Set for Flat 2024?

Feb 21, 2024

Global jack-up marketed utilization has been on an upward trajectory since 2017, reaching its peak of 94% at the end of 2023. However, the outlook for the year ahead looks somewhat flat, though there is still time for new demand.The North Sea jack-up market has improved year-on-year since 2017…

Borr Drilling Secures $82M for Three Jack-up Rigs

Feb 12, 2024

Offshore drilling contractor Borr Drilling has secured contract commitments totalling 495 days and $82.2 million in revenue for three of its jack-up rigs, excluding mobilization and demobilization compensation.Firstly, BW Energy has extended…

Lamprell Delivers Newbuild Jack-up Rig 'Kingdom 1' to IMI

Nov 10, 2023

Offshore energy engineering and construction services company Lamprell said Friday it had delivered the first of two new build jack-up rigs to its client, International Maritime Industries (IMI). The jack-up rig, Kingdom 1, which has been built collaboratively between ARO…

COSL to Buy Four New Jack-Up Drilling Rigs for $445M

Sep 22, 2023

China-based offshore drilling contractor China Oilfield Services Limited (COSL) said this week it had agreed to buy four jack-up drilling rigs from Dalian Shipbuilding Offshore.COSL's subsidiaries have agreed to buy four JU2000E jack-up drilling rigs at a total contract price of RMB3…

Borr Drilling's Backlog Increased by 421 Days with New Jack-up Rig Deals

Aug 01, 2023

Jack-up drilling rig contractor Borr Drilling said Monday it had secured two letters of award ('LOA') for its premium jack-up drilling rigs 'Gerd' and 'Thor.'These awards increase the company's firm backlog by approximately 421 days, excluding optional periods…

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