Reference is made to the announcement made on May 1, 2017 by Shelf Drilling, Ltd. (“Shelf Drilling” or the “Company”) concerning the acquisition of three Seadrill Limited jackup rigs.
The Company is pleased to announce that it has today completed the purchase and delivery on two out of three jackup rigs – the West Resolute and the West Triton. The rigs have been renamed Shelf Drilling Resourceful and Shelf Drilling Tenacious, respectively. The third jackup rig – the West Mischief, is expected to be delivered to the Company during Q3 2017 upon completion of its current client contract.
Shelf Drilling has financed the acquisition through a private placement of new Shelf Drilling common shares, as announced on April 28, 2017.
About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling contractor engaged in the provision of equipment and services for the drilling, completion and workover of offshore oil and natural gas wells.
Shelf Drilling was founded in 2012 and has established itself as a leader within its industry through its fitfor-purpose strategy and close working relationship with industry leading clients. The Company’s shares are registered on the NOTC-list.
About Seadrill
Seadrill (NYSE:SDRL) is a leading offshore deepwater drilling company, aiming to be our customers' most important partner in making oil and gas available in a safe and cost-effective manner.
The company operates a versatile fleet of 69 units that comprises drillships, jack-up rigs, semi-submersible rigs and tender rigs for operations in shallow to ultra-deepwater areas in harsh and benign environments.