GEORGE TOWN, Grand Cayman,
Nov. 30, 2012 /PRNewswire/ -- Shelf
Drilling Holdings Ltd ('Shelf Drilling'), a newly-formed focused
provider of shallow water drilling services in Asia, Africa
and the Middle East, announces the
closing of its $1.05 billion
acquisition of 37 jackup drilling rigs, one swamp barge, and
associated operations from Transocean Ltd (NYSE: RIG). The
transaction was effected pursuant to the terms of the agreements
signed on 9 September 2012.
Shelf Drilling was created to become the leading international
shallow water drilling contractor to the oil and gas
industry. Building on the decades of experience of the
approximately 3,500 worldwide employees who will transfer as part
of the transaction, Shelf Drilling seeks to provide the safest and
most reliable fit-for-purpose jackup drilling services to its
customers. The company has established its headquarters in
Dubai for optimal access to
operating bases in Thailand,
Malaysia, Indonesia, Vietnam, India, Nigeria, Gabon, Angola, Egypt, Saudi
Arabia and Italy.
"Our strategy is based on focus, reliability and relationships,"
commented David Mullen, the Chief
Executive Officer of Shelf Drilling. "We are exclusively
focused on shallow water drilling, and we will seek to build a
sustainable business that continues to grow to become the jackup
drilling contractor of choice for our customers, employees and
investors. We intend to build on our workforce's industry-leading
track record of safety and operational excellence to allow us to
build long-term relationships with our customers and
suppliers."
"I have been extremely encouraged by the response from our
employees and customers following the initial announcement of the
transaction. The entire Shelf Drilling team is excited about
the leading role our company will play in the global shallow water
drilling industry."
Shelf Drilling will immediately assume operations of seven
rigs. The remaining currently-contracted rigs will operate
under transitional operating and services agreements with
Transocean, with the goal of assuming full operations of the entire
fleet in 2013. Shelf Drilling and Transocean will work in close
collaboration to ensure a seamless transition and outstanding
safety and operational performance. A list of Shelf Drilling's
assets is included in Appendix A.
Shelf Drilling Holdings is a private company owned by management
and private equity funds managed by Castle Harlan, Inc., CHAMP
Private Equity and Lime Rock Partners.
Additional information about Shelf Drilling can be found at
www.shelfdrilling.com
Appendix A
Jackups
|
Design
|
Year
Entered Service (1)
|
Water
Depth (Feet)
|
Location
|
|
|
|
|
|
C.E.
Thornton
|
MLT 53-SC
(converted to MLT 116-C)
|
1974
|
300
|
India
|
Compact
Driller
|
MLT
116-C
|
1992
|
300
|
Thailand
|
F.G.
McClintock
|
MLT
53-C
|
1975
|
300
|
India
|
Galveston
Key
|
MLT 116-S
(converted 116CS)
|
1978
|
300
|
Malaysia
|
GSF
Adriatic I (3)
|
MLT
116-C
|
1981
|
300
|
Malaysia
|
GSF
Adriatic IX
|
MLT
116-C
|
1981
|
350
|
Nigeria
|
GSF
Adriatic V (3)
|
MLT
116-C
|
1979
|
300
|
UAE
|
GSF
Adriatic VI (3)
|
MLT
116-C
|
1981
|
328
|
Malaysia
|
GSF
Adriatic X
|
MLT
116-C
|
1982
|
350
|
Nigeria
|
GSF
Baltic
|
MLT Super
300
|
1983
|
375
|
Nigeria
|
GSF High
Island II
|
MLT
82-SD-C
|
1979
|
270
|
Saudi
Arabia
|
GSF High
Island IV
|
MLT
82-SD-C
|
1980 /
2001
|
270
|
Saudi
Arabia
|
GSF High
Island IX
|
MLT
82-SD-C
|
1983 /
2012
|
250
|
Saudi
Arabia
|
GSF High
Island V (3)
|
MLT
82-SD-C
|
1981
|
270
|
UAE
|
GSF High
Island VII
|
MLT
82-SD-C
|
1982
|
250
|
Nigeria
|
GSF Key
Gibraltar
|
MLT 84-C
(modified to 116-C)
|
1976 /
1996
|
300
|
Thailand
|
GSF Key
Hawaii
|
Mitsui 300
C
|
1983
|
300
|
Vietnam
|
GSF Key
Manhattan
|
MLT
116-C
|
1980
|
350
|
Italy
|
GSF Key
Singapore (3)
|
MLT
116-C
|
1982
|
350
|
Egypt
|
GSF Main
Pass I
|
F&G
L-780-Mod II
|
1982
|
300
|
Saudi
Arabia
|
GSF Main
Pass IV
|
F&G
L-780-Mod II
|
1982
|
300
|
Saudi
Arabia
|
GSF
Parameswara
|
Baker
Marine BMC-300-IC
|
1983
|
300
|
Indonesia
|
GSF Rig
105
|
MLT
52-C
|
1975
|
250
|
Egypt
|
GSF Rig
124
|
Modec
200C-45
|
1980
|
250
|
Egypt
|
GSF Rig
141
|
MLT
82-SD-C
|
1982
|
250
|
Egypt
|
Harvey H.
Ward
|
F&G
L-780-Mod II
|
1981
|
300
|
Indonesia
|
J.T.
Angel
|
F&G
L-780-Mod II
|
1982
|
300
|
India
|
Randolph
Yost(2)
|
MLT
116-C
|
1979
|
300
|
India
|
Ron
Tappmeyer
|
MLT
116-C
|
1978
|
300
|
India
|
Transocean
Comet
|
Sonat
cantilever
|
1980
|
250
|
Egypt
|
Trident
15
|
Modec 300
C-38
|
1982
|
300
|
Thailand
|
Trident
16
|
Modec 300
C-38
|
1982
|
300
|
Thailand
|
Trident
II
|
MLT
116-C
|
1977 /
1985
|
300
|
India
|
Trident
IX
|
Modec 400
C-35
|
1982
|
400
|
Malaysia
|
Trident
VIII
|
Modec 300
C-35
|
1981
|
300
|
Gabon
|
Trident
XII
|
Baker
Marine BMC-300-IC
|
1982 /
1992
|
300
|
India
|
Trident
XIV
|
Baker
Marine BMC-300-IC
|
1982 /
1994
|
300
|
Angola
|
|
|
|
|
|
Swamp
Barge
|
|
|
|
|
Hibiscus
|
Heavy
Swamp Barge
|
1979 /
1993
|
25
|
Indonesia
|
|
|
|
|
|
(1) Dates shown are the original
service date and the date of the most recent major upgrade, if
any.
|
|
(2) Rig is currently undergoing
reactivation.
|
|
|
|
(3) Rig is currently
stacked.
|
|
|
|
SOURCE Shelf Drilling Holdings Ltd