Oil & Gas Drilling

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Paragon Offshore increases ownership in Prospector Offshore Drilling to 90.37 pct

Monday, 17 Nov 2014 05:25am EST

Prospector Offshore Drilling SA:Says Paragon Offshore plc reported that it has acquired additional 32,734,798 shares in Prospector at a price of 14.50 Norwegian crowns.After these transactions Paragon owns a total of 85,483,812 shares of Prospector, equal to 90.37 percent of outstanding shares of Prospector.

Paragon Offshore increases ownership in Prospector Offshore Drilling to 90.37 pct

Monday, 17 Nov 2014 05:25am EST

Prospector Offshore Drilling SA:Says Paragon Offshore plc reported that it has acquired additional 32,734,798 shares in Prospector at a price of 14.50 Norwegian crowns.After these transactions Paragon owns a total of 85,483,812 shares of Prospector, equal to 90.37 percent of outstanding shares of Prospector.

Paragon Offshore plc announces acquisition Of majority stake in Prospector Offshore

Monday, 17 Nov 2014 02:36am EST

Paragon Offshore plc:Has acquired 52,749,014 shares of Prospector Offshore Drilling SA.Paragon acquired the shares at a price of 14.50 Norwegian kroner per share, or $2.13 per share.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.Paragon intends to launch a mandatory tender offer for the remaining outstanding shares of Prospector within four weeks as mandated by applicable Luxembourg and Norwegian law.

Paragon Offshore plc announces acquisition Of majority stake in Prospector Offshore Drilling SA

Monday, 17 Nov 2014 02:36am EST

Paragon Offshore plc:Has acquired 52,749,014 shares of Prospector Offshore Drilling SA.Paragon acquired the shares at a price of 14.50 Norwegian kroner per share, or $2.13 per share.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.Paragon intends to launch a mandatory tender offer for the remaining outstanding shares of Prospector within four weeks as mandated by applicable Luxembourg and Norwegian law.

Patterson-UTI Energy Inc's subsidiary announces completion of pressure pumping acquisition

Monday, 20 Oct 2014 04:09pm EDT

Patterson-UTI Energy Inc:Says that one of its subsidiaries has completed the previously announced acquisition of the Texas-based pressure pumping assets of a privately held company.Acquisition included 148,250 horsepower of hydraulic fracturing equipment and provides Patterson-UTI with two additional bases of operations and employees to support customer activity in South Texas and East Texas.

Sevan Drilling ASA announces Sevan Developer shipyard agreement and operational update

Thursday, 16 Oct 2014 01:00pm EDT

Sevan Drilling ASA:Says Sevan and Cosco have agreed to amend the termination rights of the construction contract and defer the delivery date for Sevan Developer.Says delivery is deferred for 12 months with mutually agreed options, exercisable at 6 month intervals, to extend the delivery date for up to a total of 36 months from Oct. 15.Says the agreement will terminate at the end of each deferral period, unless the option to extend is mutually agreed by both parties.Says if termination should occur, Sevan is entitled to a refund of its instalments less any agreed costs.Says Cosco will complete construction and maintain the rig at the shipyard in Qidong.Says Sevan will continue to market the rig as part of its fleet and delivery will take place only after a drilling contract is in place that is sufficient for secured financing to be obtained.Says payment of the construction liability and other related costs will be deferred until delivery and the service agreement is expected be concluded within Q4 2014.Says on Oct. 7, Sevan Louisiana began earning operational dayrate under its contract with LLOG.Says Sevan is in discussions with LLOG regarding the allocation of contractual liability and commercial consequences with respect to the downtime experienced during Q3.

Sevan Drilling ASA has entered standstill agreement with Cosco

Monday, 22 Sep 2014 01:53am EDT

Sevan Drilling ASA:Says has entered into a standstill agreement with Cosco (Qidong) Offshore Co. Limited related to Sevan Developer's construction contract.Says negotiations with Cosco continue and company expects to conclude in coming weeks.Says as stated in the Q2 report, the company is considering several options, including cancellation of the contract or negotiating a later delivery date.

Patterson-UTI Energy announces agreement to acquire texas-based Pressure Pumping Assets

Friday, 19 Sep 2014 06:00am EDT

Patterson-UTI Energy Inc:Enters into an agreement to acquire the Texas-based pressure pumping assets of a privately held company.Acquisition includes 143,250 horsepower of hydraulic fracturing equipment and provides Patterson-UTI with two additional bases of operations and employees to support customer activity in the Eagle Ford and Haynesville shale plays.Pending transaction, which is expected to close within 90 days.

Mitchell Services Ltd announces acquisition of Tom Browne drilling services assets for $9.5 million

Thursday, 21 Aug 2014 08:00pm EDT

Mitchell Services Ltd:Says that it has entered into an agreement to acquire the drilling rigs and associated assets of Tom Browne Drilling Services Pty Ltd (Tom Browne) for $9.5 million.The Tom Browne assets include 29 drilling rigs and ancillary equipment, which will double the number of rigs in the Mitchell Services fleet to 58, as well as the potential assignment of an 18-month drilling contract with a Tier 1 global mining company.

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