Shelf Drilling Achiever (4Q2019 - 4Q2022)

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Shelf Drilling Achiever (4Q2019 - 4Q2022)

Unread post by escveritas » Mon May 20, 2019 10:11 am


Shelf Drilling on Monday said the contract for the Shelf Drilling Achiever jack-up rig was three years. Shelf said the rig would operate in the Arabian Gulf for an undisclosed client.

The contract includes a one-year option. The planned start-up of operations is in the fourth quarter of 2019.

The driller recently completed the transaction to acquire from China Merchants’ two premium newbuild CJ46 jack-up rigs, and bareboat charter, with an option to purchase, of two additional premium newbuild CJ46 jack-ups.

The first two rigs, of Gusto MSC CJ46 design, are the said Shelf Drilling Achiever and the Shelf Drilling Journey.

The company last week reported a net loss attributable to common shares of $13,6 million for the quarter, which is an improvement compared to a loss of $43 million in the first quarter of 2018. Revenue for the 1Q 2019 was $147 million in line last year’s first quarter.

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