Oil & Gas Drilling

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Jasper Investments says offeror entered into a sale and purchase agreement

Sunday, 20 Sep 2015 08:09pm EDT

Jasper Investments Ltd:Offeror has, on 18 September 2015, entered into a sale and purchase agreement.Agreement in relation to sale by morton bay and purchase by offeror of an aggregate of 3.42 billion shares.Deal for aggregate cash consideration of S$1.3 million.

SeaDrill says cancels Hyundai rig building contract

Tuesday, 15 Sep 2015 07:14am EDT

SeaDrill Ltd:Has notified Hyundai Heavy Industries co ltd. that it has exercised its right to cancel contract for construction of West Mira.Unit was ordered during q2 of 2012 and delivery date stated in construction contract was by december 31, 2014.Due to shipyard's inability to deliver unit within timeframe required under contract, company has exercised its cancellation rights.Under contract terms, Seadrill has ability to recoup $168 million in pre-delivery instalments to shipyard, plus accrued interest.In the fourth quarter of 2012 Seadrill was awarded a 5 year contract for the West Mira with Husky Oil Operations Limited for operations in Canada and Greenland.As stated in the company's second quarter earnings report, due to the late delivery of the Unit, Seadrill had tentatively agreed with Husky to reduce the dayrate of the West Mira drilling contract.Seadrill remains in discussions with Husky to find an alternative solution to meet its drilling requirements.

Preliminary results of mandatory offer for S.D. Standard Drilling made by Saga Tankers

Thursday, 16 Jul 2015 02:19am EDT

SD Standard Drilling Plc:Preliminary results of mandatory offer for S.D. Standard Drilling (SDSD).Saga Tankers ASA (Offeror) has received acceptance of mandatory offer for a total of 22,555,800 shares, representing about 8.61 pct of outstanding shares and votes in SDSD.Offeror and persons acting in concert with it now owns and holds rights to a total of 179,569,430 shares, representing about 68.54 percent of shares and voting rights in SDSD.Says settlement of mandatory offer will be made as soon as possible, and no later than July 29, 2015.


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