The Company wishes to announce that JIL Limited, a wholly-owned subsidiary of the Company, has acquired 17,400,000 ordinary shares of Vantage Drilling Company (“Vantage”), a company listed on the NYSE Amex. The acquired shares represent approximately 6% of Vantage’s current total issued share capital. The total consideration paid for the shares amounted to approximately US$19.6 million which was funded by borrowings and internal resources...
Jasper owns a deepwater drillship and a midwater semi through Jasper Offshore. Jasper doesn't have the financial muscle to take control in Vantage, but they may anticipate that Vantage will be acquired by another driller in the not-distant future.
Aban Offshore inks $494-mn deal with Petrobras
CHENNAI: Aban Offshore, India's largest offshore drilling and oil-field services provider, has won a half-a-billion-dollar contract from Brazilian energy giant Petrobras for the deployment of its drillship Aban Abraham offshore Brazil for five years.
The estimated revenue from the deployment is about $494 million (approximately Rs 2,285 crore) plus a potential 3.85% performance bonus. The deployment is likely to commence during the fourth quarter of this calendar year. An earlier contract of Aban Abraham worked out to $3,25,000/day, including a potential 3.85% performance bonus...
$270 000 day rate isn't good for a dp-deewater drillship, but the rig is old and has a limited hookload capacity and Aban doesn't have much of a reputation. The company has over $3 billion in debt and limited contract coverage for its fleet.
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