Prospector Offshore Drilling News

Paragon Offshore plc reported that it has acquired 52,749,014 shares of Prospector Offshore Drilling S.A., a publicly traded offshore drilling company listed on Oslo Axess. Paragon acquired the shares at a price of 14.50 Norwegian kroner (NOK) per share, or $2.13 per share based on the exchange rate of one United States dollar to 6.80 NOK. Following this transaction, Paragon owns a total of 52,749,014 shares of Prospector, equal to 55.8 percent of the outstanding shares of Prospector.

Successful retrofit to first newbuilding sees Aberdeen-based owner specify further Low Expansion Foam system for second China-built jack-up. Wilhelmsen Technical Solutions (WTS) has received a repeat order to install its Unitor Low Expansion Foam fire extinguishing system on a second jack-up newbuilding for Prospector Offshore Drilling. The specialized firefighting systems will provide fire protection for the shale shakers and mud pits on Prospector  1 and Prospector 5 during their charters to Total E&P UK Ltd.

Prospector Offshore Drilling agrees with two Chinese shipyards to extend options on 6 rig construction agreements. An agreement with Dalian Shipbuilding Industry Offshore Co. extends the expiry dates on three of its rig construction option agreements with DSIC Offshore that were previously due to expire on 31 December 2012 have been extended until 31, March 2013. Another agreement with Shanghai Waigaoqiao Shipbuilding Co. extends he expiry dates on three of its rig construction option agreements with SWS that were previously due to expire on 31 December 2012, until 30, June 2013. Prospector Offshore Drilling (PROS) currently has contracts in place for the design, construction and delivery of four F&G JU2000E high specification, harsh environment (HS/HE) jack-up drilling rigs.

Dalian Shipbuilding Industry Offshore has been notified by Friede & Goldman Marketing BV (F&G) to temporarily suspend construction of its rig jacking systems. Arising from the recent accident during the construction of a similar rig at the Jurong Shipyard in Singapore, Prospector Offshore Drilling S.A. which has four jack-up rigs  under construction in Dalian Shipbuilding Industry Offshore Co. Ltd. (DSIC-Offshore), has been informed that DSIC-Offshore has been notified by Friede & Goldman Marketing BV (F&G) to temporarily suspend work on the rigs’ jacking systems, pending testing. F&G is the engineering firm that has designed the jack-up and which has supplied the entire jacking system through their own sub-suppliers.