In a stock exchange filing this afternoon, Hercules Offshore announced their offer to acquire all the remaining shares of jack-up drilling firm Discovery Offshore S.A. at a price of NOK 15.00 per share.
Discovery Offshore is a pure-play, ultra high-specification jackup drilling company, with two rigs, the Discovery Triumph and Discovery Resilience, under construction at Keppel FELS. Once delivered in the second and fourth quarters of 2013, they were scheduled to be placed under full operational and commercial management of Hercules.
On 24 June 2013, Hercules acquired a 50 percent stake in Discovery Offshore, today’s announcement marks Hercules’ mandatory bid for all remaining shares in accordance with the Norwegian Securities Trading Act.
John T. Rynd, Chief Executive Officer and President of Hercules Offshore commented in a statement on their website,
“Discovery Offshore was conceived by us over two years ago as a way to enter into the high-specification jackup market. The two Discovery rigs are world-class assets with market leading capabilities that place them among the highest specification jackup rigs in the world. These rigs will significantly expand our service offerings to the most demanding drilling customers, and open new international markets that have growing needs for assets of this caliber. With construction of both Discovery rigs nearing completion, we feel conditions are right for us to acquire the entire entity.”
Keppel FELS Super A design
Discovery Offshore S.A.’s jackups are based on the advanced Keppel FELS “Super A” Class proprietary design.
By Ellen Francis (Reuters) – Interpol has issued red notices for the captain and owner of the ship that carried the chemicals which devastated Beirut in an explosion in August, killing 200...
By Chen Aizhu (Reuters) – China has issued 5 million tonnes of clean marine fuel export quotas in the first release for 2021, to five companies including a private refiner,...
By Andrea Shalal (Reuters) – The United States is urging European allies and private companies to halt work that could help build the Nord Stream 2 natural gas pipeline and...
December 23, 2020
Total Views: 850
Sign Up Now for gCaptain Daily
Just enter your email and get hot news every morning
We use cookies on our website to give you the most relevant experience. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.