North Atlantic Drilling: No Recovery for Current Shareholders
Rig firm North Atlantic Drilling said in a statement: North Atlantic Drilling Ltd., a majority owned subsidiary of Seadrill Limited, announced holders of it common stock will receive no recovery in Chapter 11 process Seadrill earlier announced it had filed for Chapter 11 bankruptcy and expects current Seadrill shareholders to receive 2 pct of the post-restructured equity Related stories:Seadrill files for chapter 11 bankruptcy Sevan Drilling: No recovery for current shareholders under chapte
Petrobras, BP Find Oil Prospect in Campos Basin
Brazil's state-run oil company Petrobras and BP PLC have discovered a new oil prospect in the Campos Basin off the coast of Rio de Janeiro state, the Brazilian partner said on Wednesday. An exploratory well hit the heavy oil nearly 1,000 meters (3,280 feet) below the seabed, beneath 2,214 meters of water, using a rig run by Sevan Drilling ASA. The location of the find is about 143 kilometers from the city of Buzios, according to Petrobras, which is formally known as Petroleo Brasileiro SA.
Update on Sevan 650 Drilling Unit
The Board of Directors of COSCO Corporation (Singapore) Limited refers to the announcement made on 30 May 2011 in relation to the turn-key EPC (Engineering, Procurement and Construction) contract entered into between COSCO (Qidong) Offshore Co., Ltd with Sevan Drilling Rig VI Pte Ltd. Under the EPC Contract, delivery of the drilling unit was to take place in the second quarter of 2014. The Shipowner and…
Offshore Deepwater Brazil Sevan Drilling’s Big Dig
Up until 2011, Sevan Drilling was part of Sevan Marine, which builds FPSOs. In 2011 Sevan Drilling was separated from Sevan Marine becoming an independent company. Sevan Drilling was established by Sevan Marine in 2006 for the purpose of building state-of-the-art, ultra deepwater drilling rigs based on the Sevan 650 design, commonly known as the bucket design. Later the same year, Sevan Marine completed a private placement for the purpose of financing…
Seadrill's Sevan Drilling Controlling Interest Agreed
Seadrill's mandatory offer to purchase all of the shares in Sevan Drilling ASA at NOK 3.95 per share has been accepted. Seadrill has received acceptances of the Offer totalling 47,394 shares. At completion of the offer Seadrill will control 297,941,358 shares of Sevan, either through direct ownership or forward contracts, representing 50.11% of all issued shares of Sevan. In accordance with the terms and conditions set out in the Offer Document…
Seadrill Wants Remaining Sevan Drilling Shares
Seadrill announces mandatory offer for all outstanding shares in Sevan Drilling. On June 27, 2013 Seadrill Limited announced that it had acquired 116,934,875 shares in Sevan Drilling ASA at a price of NOK 3.95 per share and its intention to launch a mandatory offer for all the outstanding shares in Sevan Drilling not owned by Seadrill. They now announce the launch of the Offer on the terms and conditions set out in the offer document dated July 24, 2013.
