New York-listed offshore drilling contractor Diamond Offshore has sold its 50-year-old semisub rig for recycling.
Cash buyer Best Oasis has picked up the 1974-built Ocean Monarch for $7.5m.
Diamond Offshore has been marketing the rig for sale since last year only to confirm the unit as disposed of in its latest fleet status report.
The rig had been cold-stacked in Malaysia for about two years prior to sale.
