Transocean completes jackup fleet sale to Borr Drilling

Transocean completes jackup fleet sale to Borr Drilling

Offshore drilling contractor Transocean has completed a transaction to sell its entire jackup fleet to Borr Drilling for a total of $1.35bn.

The two companies signed a letter of intent for the deal in March.

The sale included Transocean’s 10 jackups in service and another 5 jackups under construction at Keppel FELS shipyard in Singapore.

Borr Drilling, which was formed by a clutch of former confidantes of John Fredriksen, completed a $800m equity offering in March to finance the deal.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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