SeaDrill Sells Ocean Rig ASA Position

Friday, January 06, 2006
SeaDrill has accepted an offer to sell the company's position in Ocean Rig ASA. Total 21,414,028 shares were sold at NOK 89 per share. In addition, the Ocean Rig ASA 04/07 Convertible Bond, nominal value NOK 10,500,000, which may be converted into 552,632 shares in Ocean Rig ASA were sold, basis same price. The transaction will generate a profit of approximately $80 million to be recorded in Q1 2006. The Investment in Ocean Rig has since it was acquired in 2005 been considered as an opportunistic investment. The proceed from the sale estimated to approximately $ 298 million will be used to expand SeaDrill's own business including further acquisitions as well as capital reserved for financing part of the Company's USD 1,5 billion fixed price newbuilding option program.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Diana Shipping Nets 2Q Loss

Diana Shipping Inc. today reported a net loss of $14.1 million and net loss attributed to common stockholders of $15.5 million for the second quarter of 2015, compared to net loss of $5.

U.S. Drillers Add Rigs Despite Crude Collapse

U.S. energy firms added 5 oil rigs this week after putting 21 rigs into service last week, the most in over a year, despite a collapse in U.S. crude prices from recent highs in June,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1910 sec (5 req/sec)