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Maersk Drilling sells jack-up rig Maersk Completer

18 Dec 2019

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Maersk Drilling has entered into an agreement with a subsidiary of Shelf Drilling to sell the jack-up rig Maersk Completer for USD 38m in an all-cash transaction. The transaction is subject to customary closing conditions, and the rig is expected to be delivered in January 2020.

Photo - see caption
Maersk Drilling sells jack-up rig Maersk Completer

Maersk Completer, which was delivered in 2007, has been stacked in Singapore since 2017.

'The sale is in line with our decision to concentrate our jack-up activities in the harsh environments in the North Sea, where we have our strengths and a better competitive position. With limited prospects for our reactivation of Maersk Completer we believe a sale creates the highest value for Maersk Drilling and our shareholders,' says Jesper Ridder Olsen, CFO of Maersk Drilling.

The sale results in a pre-tax accounting loss of USD 34m.

After the sale, Maersk Drilling’s rig fleet counts 14 jack-up rigs, of which 13 are suited for operation in harsh environments, and eight floaters.

Original article link

Source: Maersk Drilling

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