NADL – North Atlantic Drilling: Announces Acquisition of Land Drilling Rigs in Russia
North Atlantic Drilling Ltd. is pleased to announce that an agreement has been signed whereby NADL will purchase a significant portion of Rosneft’s land drilling fleet in Russia. Approximately 150 rigs will be acquired along with an award of new 5 year contracts with Rosneft for these units. Following the …
Rosneft and ExxonMobil’s Karmorneftegaz Start Drilling With West Alpha in the Kara Sea
Rosneft and ExxonMobil joint venture company Karmorneftegaz began drilling of Universitetskaya-1, the Russian Federation’s northernmost well using the Karmorneftegaz rig. The start of the drilling was launched by Russian President Vladimir Putin during a teleconference with head of Rosneft Igor Sechin and head of ExxonMobil Russia Glenn Waller who were both …
NADL – North Atlantic Drilling Secure Commitment for Six Offshore Units from Rosneft
North Atlantic Drilling is pleased to announce that 6 binding offshore contracts have been executed with Rosneft Oil Company. The total revenue potential for the six contracts exclusive of mobilization is approximately US$4.25 billion. According to the agreement, any break rights expire after 100 days. The executed contracts include 5 …
Rosneft and North Atlantic Drilling Expand Offshore Partnership
Rosneft and North Atlantic Drilling Ltd. have entered into long-term offshore drilling contracts. The transaction contemplates employment of six offshore drilling rigs until 2022 with the purpose of carrying out Rosneft offshore projects, including harsh environment. After the signing, Igor Sechin stated: “Entering into long-term offshore drilling agreements will allow …
NADL – Seadrill and North Atlantic Drilling Announce Investment and Co-operation Agreement with Rosneft to Partner in the Russian Market
North Atlantic Drilling Ltd. (“NADL” or the “Company”) and Seadrill Limited (“Seadrill”) are pleased to announce that an Investment and Co-operation Agreement has been executed with Rosneft in order to pursue growth opportunities offshore and onshore in the Russian market through at least 2022. As part of these proposed opportunities, …
Rosneft, Seadrill and North Atlantic Drilling Expand Cooperation
Rosneft, North Atlantic Drilling Ltd. and Seadrill Limited signed an Investment and Cooperation Agreement at the 18th St. Petersburg International Economic Forum to form a long-term partnership with a view to capture the opportunities in developing Rosneft’s offshore and onshore projects until at least 2022. The signing ceremony was led …
NADL – North Atlantic Drilling Ltd. Reports Fourth Quarter and Preliminary 2013 Results
Consolidated revenues for the fourth quarter of 2013 were US$310.4 million as compared to US$321.2 million for the third quarter of 2013. Operating profit for the fourth quarter was US$89.2 million, a decrease of US$3.7 million compared to the third quarter operating profit of US$92.9 million. Highlights – North Atlantic …
North Atlantic Drilling: Announces Pricing of its Initial Public Offering of its Common Shares
North Atlantic Drilling Ltd. announced today that it has priced its initial public offering of 13,513,514 common shares at $9.25 per share. The Company has granted the underwriters a 30-day option to purchase up to 2,027,027 additional common shares. At the request of the Company, the underwriters have agreed to …
NADL: Partnership Discussions on Hold, Filing for NYSE Listing
North Atlantic Drilling Ltd. and Seadrill Limited announced on August 15, 2013 that the companies were actively engaged in specific discussions with the potential to bring in a strategic partner as a major owner in NADL. The parties have made solid progress in these discussions but have not yet been …