Odfjell Offshore to raise US$ 500 million
The Norwegian company and subsidiary of Odfjell Drilling, Odfjell Offshore has laid out plans to raise up to US$ 500 million, via a private equity placing, in order to further develop its fleet of ultra-deepwater and harsh environment drilling vessels.
The company’s Chairman, Simen Lieungh, said, “Odfjell Offshore’s strategy is to expand our drilling operations in the ultra-deepwater and harsh environment market.” He continued, “Our fleet is uniquely positioned and we have a strong backlog. Currently, we have one newbuild ultra-deepwater semi under construction. In addition we have secured an option to build two similar unites at Daewoo Shipbuilding and Marine Engineering in South Korea.”
Shares in the company will be offered at US$ 7 – 8 each, with shares available for purchase until 23 March.
Despite the equity placing, Odfjell Drilling will remain the majority shareholder.
Read the article online at: https://www.oilfieldtechnology.com/exploration/13032012/odfjell_offshore_to_raise_500million/
You might also like
Nigeria’s oil and gas industry expands as crude and condensate production reaches 554.4 million bbls and gas output grows by 7.5 billion ft3/d in 2025
Sarens and its subsidiary in Nigeria, Sarens Buildwell, has positioned itself as the optimal strategic partner for the oil and gas sector due to its strong commitment to the highest international standards of safety and operational excellence.