Fred. Olsen Energy Proposes to Issue New Equity in Restructuring
Norwegian drillship and rig operator Fred. Olsen Energy, proposes to sell one of its drilling units and to issue $130-140 million in new equity to pay off debt, as part of a refinancing plan published on Tuesday.The proposal includes issuing about $90 million in new loan capital…
Major Oil Rig Contract for Harland and Wolff
In a multi-million pound boost to the Northern Ireland economy, Belfast ship builder Harland and Wolff has secured a contract to carry out major work on an oil rig. Dolphin Drilling Limited has awarded H&W the contract for the drydocking…
Fred. Olsen Rig Upgrade Delayed; Costs Eyed
Rig to cost $195 mln to upgrade vs earlier $125 mln; upgrade to be completed in June vs earlier view April. Firm's down 5.6 percent. Norwegian rig firm Fred. Olsen Energy said on Tuesday that an upgrade on one of its most important rigs…
