Norway’s drilling service provider Dolphin Drilling, which mainly operates in the mid- and ultra-deep water segment, has completed a financial restructuring.
The company’s operating subsidiaries have been transferred to a new holding company, Dolphin Drilling Holdings Limited, while the old holding company will file for bankruptcy today and be wound down.
Bjørnar Iversen, incoming chief executive officer of Dolphin Drilling, commented: “We are delighted that Dolphin Drilling has now emerged in a strong position for the future. In addition to the company’s focused, nimble fleet and high-quality team, we now have the firm financial footing we need to win new business. I look forward to working with the team to ensure that the company fulfills its full potential.”
Dolphin Drilling has a fleet of four semi-submersible rigs and two drillships.
