Northern Offshore Completes Jack-Up Rig Sale (USA)

Northern Offshore, Ltd. has completed the previously-announced sale of its jack-up rig Energy Exerter. The company did not reveal the name of the customer.

The net proceeds from the sale after fees and expenses is approximately US$43.5 million, with a financial net gain of approximately US$7.5 million, the Texas-based owner of drilling units informed.

The Energy Exerter is a harsh environment jack up drilling rig. It is rig is designed for all year round operation in the Southern North Sea and seasonally in the Central North Sea in water depths of up to 91.5 m (300 ft) with an available leg length below  the hull of 112 m (367 ft).

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Offshore Energy Today Staff, October 15, 2012