Jack-Up Specialist Shelf Drilling Falls in Oslo Debut, But Optimistic on Rising Rig Rates

By Nerijus Adomaitis OSLO, June 25 (Reuters) - A fall in equities and oil markets knocked shares in Shelf Drilling on their Oslo market debut on Monday, although the world's largest owner of shallow water rigs was optimistic rig rates are set to rise. The Dubai-based company's shares were trading at 63.64 Norwegian crowns at 1400 GMT, below their initial public offering … [Read more...]

SPOTD: Key Singapore Loaded Up on COSCO’s Xia Zhi Yuan 6

On 30 March, Shelf Drilling’s Key Singapore jack-up drilling rig was loaded on to COSCO Heavy Transport's 38,000 ton deadweight semi-submersible heavy lift vessel Xia Zhi Yuan 6.  She is being transported to Abu Dhabi, UAE. Key Singapore is a Marathon LeTourneau 116-C design rig built in 1982 capable of operating in waters up to 350 feet deep. … [Read more...]

Key Gibraltar Gains Work in the Gulf of Thailand

Singapore-based KrisEnergy Ltd. announced today they have contracted Shelf Drilling's Key Gibraltar jack-up for a 6-month drilling drilling campaign in the Gulf of Thailand.  The contract includes a 2-month extension option. The drilling program is anticipated to comprise 12 to 14 development wells in G10/48 where KrisEnergy is developing the Wassana oil field, together with … [Read more...]

Shelf Drilling Wins Long-Term Contracts Offshore Thailand

Shelf Drilling announced today their global fleet of 37 jack-up rigs will grow by two in conjunction with the recent award of a pair of 5-year offshore drilling contracts by Chevron Thailand. New fit-for-purpose jack-ups will be built at an estimated combined capital cost of USD $370 million by Lamprell's Hamriyah shipyard in the UAE and be of the Letourneau MLT Super 116 E … [Read more...]