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Oil & Gas Drilling

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Parker Drilling says one Arctic-class drilling rig in Alaska placed on standby in Q1

Monday, 16 May 2016 09:31am EDT

Parker Drilling Co : In form 10-Q filed on May 5, 2016, stated one of our two Arctic-class drilling rigs in Alaska was placed on standby in Q1 . On May 10, 2016, reached agreement with customer to keep rig contracted through end of original contract term, which is Dec 2017 . Rig currently remains on standby and is positioned for future drilling activity should customer elect to restart operations .Says financial results are not materially impacted by this change - SEC filing.

Noble corporation announces agreement with Freeport-Mcmoran

Tuesday, 10 May 2016 10:00am EDT

Noble Corporation Plc : Noble Corporation Plc announces agreement with Freeport-Mcmoran . Noble to receive $540 million payment plus potential $75 million in contingent payments . Deal for $540 millio . In addition, noble can receive additional contingent payments from freeport of $25 million and $50 million . Expects to realize over $100 million in direct cost savings as a result of contract terminations through crew reductions and stacking procedure . Agreement in connection with drilling contracts for drillships noble sam croft and noble tom madden . Noble also expects to realize over $100 million in direct cost savings . Freeport can make $540 million payment through a combination of cash, freeport shares and up to $200 million in near-term noble bonds .Pursuant to agreement, drilling contracts will be terminated, with operations ceasing as soon as practicable.

Bonheur and Ganger Rolf merger to be effective from May 6

Friday, 29 Apr 2016 04:15am EDT

Bonheur ASA:Effective date (of completed merger), i.e. first day of Bonheur trading alone is May 6.Merger conversion ratio: 0.8174 Bonheur per 1 Ganger Rolf share.

Ocean Rig UDW Inc to acquire ultra deepwater drillship for $65 mln

Monday, 25 Apr 2016 09:00am EDT

Ocean Rig UDW Inc:Ocean Rig UDW Inc announces acquisition of Ultra Deepwater Drillship.Purchase price of $65 million.Purchase price will be funded with available cash on hand.Says Drillship will be renamed Ocean Rig Paros upon its delivery to Ocean Rig.One of its subsidiaries has acquired "6th generation ultra deepwater drillship Cerrado, being sold through an auction".

Energold Drilling Corp to acquire Cros-Man Direct Underground Ltd

Monday, 7 Mar 2016 09:00am EST

Energold Drilling Corp:Announces acquisition of cros-man direct underground ltd.Says Energold acquired all of the issued and outstanding shares of cros-man.Says Energold has agreed to retain the existing management and employees of cros-man.Says expects the acquisition to be immediately accretive to its net income per share.

Hercules Offshore Inc to explore strategic alternatives

Thursday, 11 Feb 2016 08:01am EST

Hercules Offshore Inc:Forms special committee to explore strategic alternatives.Formation of the special committee is not in response to any proposal received by the company or an approach by a third party.Says no decision has been made to engage in any particular transaction or transactions.Says the special committee has engaged pjt partners as its financial advisor.Says as of February 9, 2016, the company had approximately $514 million of cash.

Proposed merger of Bonheur ASA and Ganger Rolf ASA

Monday, 8 Feb 2016 02:20am EST

Ganger Rolf ASA:Says the company and Bonheur ASA BON.OL have resolved to propose a merger of the two mentioned companies ‍.Bonheur, controlling 62.66 pct of shares in Ganger Rolf, will be surviving entity in merger and maintain its listing on Oslo Stock Exchange ‍.Ganger Rolf shareholders to receive 0.8174 Bonheur shares for every one share in Ganger Rolf​‍.External shareholders of Bonheur and Ganger Rolf will at outset retain different relative shares of equity in merged entity, i.e. 76.05 pct and 23.95 pct​.Merger will result in Bonheur increasing its direct ownership in Fred. Olsen Energy ASA from 25.96 pct to 51.92 pct.Merger is expected to be completed by end of May 2016​​.

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