Ezion pockets just $3 from sale of stacked rig trio - Splash247

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On January 30, 2017, we discovered from Offshore, Energy, Today the following: U.S.-based Dleif Drilling has turned down an offer made by Borr Drilling, previously referred to as Magni Drilling, for the sale of the drillship Serto. Dleif received the deal for the drillship in November 2016 from the then Magni Drilling.

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The sixth generation deepwater drillship (2012) used to be owned by the Brazilian bankrupted, Schahin Group and was under long-term charter with the state-owned oil giant Petrobras. The drillship worked on the Libra field together with Scahin's other drillship, Cerrado, which was purchased an auction by Ocean Rig in April 2016 for $65 million.

This is a substantial news for Transocean, since the business will divest its entire non-core jack-up fleet, including its 5 jack-ups under-construction. The monetary implications can run deep into RIG balance sheet and it is necessary to analyze this significant relocation in information. For the ones who desire to revitalize their memory, it is crucial to read my post about the 4Q' 16.

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Initially, Transocean will end up being a "deepwater gamer" specifically, which will not affect considerably earnings. Fleet Operating Data for 2016 per Quarter. Sector 4Q '16 $ million 3Q '16 $ million 2Q '16 $ million 1Q '16 $ million UDW 560 583 556 621 HE Floaters 100 103 100 181 Deepwater 35 43 51 85 Midwater 30 87 133 138 HS JU 66 66 74 82 Termination fee 169 9 9 4 Contract intangible 2 4 4 209 Client Reimbursable 12 11 16 21 Total in$ million 974 906 943 1,341 As we can see, RIG 2016 earnings were $ 4,164 million and earnings from HS jack-ups were $288 million( $526 million in 2015), representing. RIG ended 2016 with a money and money equivalent of $3. 052 billion and a long term debt of $7. 5 billion (Total debt$ 8. 546 billion ). Cap, Ex 2016 was $ 1. 344 billion. M. Marc Mey, CFO, stated in the last conference call: Capital expenditures in 2017 are expected to be around$ 500 million. In 2018, we expect Cap, Ex of around$ 325 million. This consists of roughly $100 million in
newbuild Cap, Ex and $245 million for upkeep and other Cap, Ex. Second, by monetizing  Find Out More Here -core Jack-up fleet, RIG will conserve a substantial amount of Cap, Ex in 2020-2021 and most likely a fair amount of headache as well. 1 billion. The rigs are set up to be provided progressively from 1Q 2016 to 3Q 2017. Transocean already paid $290 million.