General – Sale Semi Sub
Odfjell Drilling has signed an agreement for the acquisition of the harsh environment semi-submersible drilling rig Deepsea Bollsta from Northern Ocean, for a total consideration of USD 480 million.
Deepsea Bollsta has been managed by Odfjell Drilling since Q1 2022 and is currently on firm contract with Equinor until Q1 2028, in addition to having 5 x 1-year options. The acquisition is estimated to add USD 355 million in firm backlog.
Odfjell Drilling has received binding commitments from its relationship banks to fully finance the acquisition. However, the Company will also explore other credit financing sources to optimise its long-term capital structure.
The acquisition will follow standard closing procedures and has conditions customary for this type of transaction.
