As previously reported both contractors entered into a definitive merger agreement under a cash and stock transaction valued at approximately $2.7 billion, inclusive of Ocean Rig’s net debt.
Transocean announced on Dec. 5, 2018 that it has completed the acquisition of Ocean Rig UDW Inc. The acquisition adds nine high-specification ultra-deepwater drillships, two harsh environment semisubmersibles, and two high-specification ultra-deepwater drillships currently under construction to Transocean’s existing fleet.
Its been a busy year for Transocean, with the acquisition of Ocean Rig and:
- 790 extension for the PB10k
- 1 year contract for the Henry Goodrich
- Paul B. Loyd awarded a two well deal
- KG2 awarded a 3 well deal
- Deepwater Asgard awarded a 1 well deal
- Spitsbergen, option exercised for additional well
- Deepwater Nautilus awarded an additional well
- DD1 awarded a 12 well deal
They also scrapped 4 rigs and bought a 33.3% interest in the West Rigel, a newbuild harsh environment semi-submersible rig built by a Sembcorp Marine.
They have certainly been busy this year and the outlook for 2019 is good!
Press release here for acquisitionÂ
Photo is licensed under the Creative Commons Attribution-Share Alike 2.0 Generic license. Author- Sten Dueland
Check out our other current stories!
