Transocean Shares Take a Beating Over Songa Offshore Deal
By David Wethe and Joe Carroll (Bloomberg) — Transocean Ltd. dropped to the lowest in more than two decades as investors panned its deal to buy Songa Offshore SE in...
Songa Venus, Image: Songa Offshore
Songa Offshore’s 1975-built Friede & Goldman L-900 design semisubmersible drilling rig has been stacked in Labuan, Malaysia since 6 May after completing its last contract, according to Songa Offshore today. The company notes they are actively marketing the rig for work.
Songa Offshore will only have exclusive ownership of the rig for another month however, as their sale to Opus Offshore Group, along with the Songa Mercur, is scheduled to take place within the end of July.
The Songa Venus is capable of operating in water depths up to 1,500 feet using a 18-3/4″, 10 ksi BOP and 21″OD riser.
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