Odfjell Well Services is one of three successful bidders selected to provide these services both onshore and offshore. Currently there are over 120 rigs working onshore in Kuwait, however this is expected to increase significantly during 2018.
The firm duration of the contract is 5 years, based on call off services and is expected to commence in January 2018.
George Taggart, EVP Odfjell Well Services says; “This is an extremely important contract for Odfjell Well Services and builds upon our strategy to grow in new geographical markets. Kuwait is currently one of the largest growing markets in the world and this contract assures our position as one of the leading service companies in the region for many years to come.”
For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations
+47 934 59 173
16 January 2018
Odfjell Drilling Ltd.
ODL – Odfjell Drilling signs drilling contract for Deepsea Atlantic and the Master Frame Agreement with Equinor
Please find attached the Q1 2018 Presentation which will be used as a basis for today’s investor conference call at 15.00hrs CET.
Odfjell Drilling Ltd. reports for the first quarter of 2018
Reference is made to the stock exchange notice of 19 April 2018 whereby Odfjell Drilling Ltd ("Odfjell Drilling " or the "Company") announced the successful completion of the private placement raising gross proceeds of approximately USD 175 million (the “Private Placement”) with the purpose of financing growth within its mobile offshore drilling fleet and general corporate purposes.
Reference is made to the stock exchange release by Odfjell Drilling Ltd ("Odfjell Drilling" or the "Company") on 19 April 2018 regarding a contemplated private placement to raise up to USD 200 million (the "Private Placement") by issuing new common shares (the "Offer Shares"). The Company is pleased to announce that the Private Placement has been successfully subscribed, raising gross proceeds of NOK 1.368 billion, equivalent to approximately USD 175 million through issuance of 38 000 000 new common shares at a subscription price of NOK 36.00 per Offer Share.