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BRIEF-HitecVision says Energy Drilling in deal to market, operate 2 rigs
June 28, 2017 / 7:34 AM / 4 months ago

BRIEF-HitecVision says Energy Drilling in deal to market, operate 2 rigs

June 28 (Reuters) - Private equity firm HitecVision As said on Wednesday:

* Says Energy Drilling Management signs memorandum on understanding with China Merchants Industry Holdings, acquiring exclusive marketing and operating rights to two premium newbuild drilling rigs

* Energy Drilling: “Despite the weak outlook for the offshore market, we are constantly on the lookout for opportunities to grow the company”

* Acquiring the rights to market and operate newly built high spec rigs that have been abandoned in shipyards allows Energy Drilling to embark on “capital light” strategy.

* First unit is a tender assist barge rig designated as Hull No. CMHI (JS)-151-1 which was delivered for development drilling in South East Asia and West Africa in 2016. It is a high specification, quality build that is fully commissioned and ready for mobilisation upon short notice.

* The second unit is a three-legged cantilever type jack-up drilling rig from Gusto CJ46-X100-D, and it is intended for use in water depths up to 350ft in a moderate environment Source text: bit.ly/2sg9Kxb Further company coverage: (Reporting By Terje Solsvik)

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