{"id":38834,"date":"2024-10-31T22:39:16","date_gmt":"2024-11-01T05:39:16","guid":{"rendered":"https:\/\/cbs26.com\/index.php\/2024\/10\/31\/two-jack-up-rigs-alternate-hands\/"},"modified":"2024-10-31T22:39:16","modified_gmt":"2024-11-01T05:39:16","slug":"two-jack-up-rigs-alternate-hands","status":"publish","type":"post","link":"https:\/\/cbs26.com\/index.php\/2024\/10\/31\/two-jack-up-rigs-alternate-hands\/","title":{"rendered":"Two jack-up rigs alternate hands"},"content":{"rendered":"
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October 31, 2024,byMelissa Cavcic<\/span><\/p>\n

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Vantage Holdings International, a subsidiary of Vantage Drilling International, has bolstered its managed companies by divesting two jack-up rigs, which permit ADES Keeping Company, fragment of Saudi Arabia-headquartered oil and gasoline drilling companies supplier ADES Community, to expand its rig posthaste.<\/strong><\/p>\n

Topaz Driller rig; Source: Vantage Drilling<\/figcaption><\/figure>\n

A allotment aquire agreement (SPA)<\/a>disclosed in September 2024, used to be anticipated to enable ADES to make all of the issued and outstanding equity of Vantage’s wholly-owned subsidiary, Rig Finance (RFL), the owner of the 2009-builtSoehanah<\/strong>375-foot jack-up rig.<\/p>\n

As successfully as, an asset aquire agreement (APA) for the firm’s indirectly-held subsidiary, P2021 Rig Co. used to be also confirmed, below which the 2007-builtTopaz Driller<\/strong>375-foot jack-up rig used to be also added to the list of rigs being supplied to ADES.<\/p>\n

The sale of each rigs, which embody an aggregate aquire rate of $190 million in money, discipline to sure adjustments, has now been executed. Vantage is convinced that this extra strengthens its space in managed companies and delivers enhanced price to shareholders.<\/p>\n

Whereas the Topaz Driller jack-up rig is working within the Malaysia-Thailand joint constructing house, the Soehanah jack-up rig operates in Indonesia. Vantage sees the divestment of these sources as fragment of its strategic focal level on increasing its managed companies industry and declaring a flexible, asset-gentle model that optimizes capital allocation.<\/p>\n

Ihab Toma<\/strong>CEO of Vantage Drilling, commented: “This transaction is a most important step in Vantage’s ongoing technique to enhance shareholder price. By strategically selling these shrunk rigs, we now possess shifted to a score money space, permitting us to focal level on increasing our managed companies portfolio, which stays an house of focal level for the firm.<\/em><\/p>\n

“We are confident this come will extra give a take to our monetary space while providing ongoing, fine quality companies to our purchasers. We are glad to continue our solid partnership with ADES thru this transaction. Southeast Asia is a key market, and the transfer of these rigs will enable ADES to extra its expansion within the keep, while Vantage stays successfully-positioned to grow its asset-gentle companies industry and produce sustainable price to our shareholders.”<\/em><\/p>\n

The sale of the jack-up duo to ADES follows months after Vantagemade preparations<\/a>with TotalEnergies to dump a drillship, which used to be working in Namibia for the French oil main. Meanwhile, ADES has secured several fresh rig presents, including anoffshore drilling assignment<\/a>off the soar of Thailand.<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n

Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

October 31, 2024,byMelissa Cavcic Vantage Holdings International, a subsidiary of Vantage Drilling International, has bolstered its managed companies by divesting two jack-up rigs, which permit ADES Keeping Company, fragment of Saudi Arabia-headquartered oil and gasoline drilling companies supplier ADES Community,\u00a0to expand its rig posthaste. Topaz Driller rig; Source: Vantage Drilling A allotment aquire agreement (SPA)disclosed<\/p>\n","protected":false},"author":1,"featured_media":38835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3408,3581],"tags":[],"yoast_head":"\nTwo jack-up rigs alternate hands - CBS26 Arizona<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cbs26.com\/index.php\/2024\/10\/31\/two-jack-up-rigs-alternate-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Two jack-up rigs alternate hands - CBS26 Arizona\" \/>\n<meta property=\"og:description\" content=\"October 31, 2024,byMelissa Cavcic Vantage Holdings International, a subsidiary of Vantage Drilling International, has bolstered its managed companies by divesting two jack-up rigs, which permit ADES Keeping Company, fragment of Saudi Arabia-headquartered oil and gasoline drilling companies supplier ADES Community,\u00a0to expand its rig posthaste. 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