Seadrill Increases Ownership in Asia Offshore Drilling Limited

One of the world’s largest drilling contractors, Seadrill Limited has today acquired additional 611,449 shares of Asia Offshore Drilling Limited.

The shares were acquired at a price of US$ 5.00 (NOK 28.71) per share. Following this acquisition, Seadrill will be the owner of 26,302,407 shares in the Company, corresponding to 65.76% of the total number of outstanding shares in the Company.

Asia Offshore Drilling Limited is a jack-up rig company that has three KFELS Mod V – B Class jack-up rigs under construction at Keppel FELS Limited in Singapore. The expected deliveries of the rigs are in the first calendar quarter of 2013, the second calendar quarter of 2013 and the third calendar quarter of 2013, respectively.

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Offshore Energy Today Staff, October 29, 2012