Shelf Drilling has announced that one of its subsidiaries has entered into a definitive agreement with ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), to sell the Shelf Drilling Journey jack-up drilling rig for a total consideration of USD77.6 million. Seller has been designated as an unrestricted subsidiary as defined in the applicable financing agreementsof the Company’s subsidiaries. The transaction is subject to customary closing conditions, and the rig is expected to be delivered during the first quarter of 2021.
Source: Shelf Drilling
