Songa Eclipse is Officially in Seadrill’s Hands

Offshore Drilling contractor Songa Offshore SE finalized today the formal handover of the Songa Eclipse semi-submersible drilling rig to Seadrill in line with the Memorandum of Agreement from November 2012.

As previously reported, Songa’s net proceeds from the sale is USD 590 million. After repayment of debt, the net cash effect from the sale proceeds will be approximately USD 285 million.