Awilco Drilling wraps up sale of WilPhoenix rig to Well-Safe Solutions

Awilco Drilling said that its wholly-owned subsidiary Awilco Drilling Offshore (UK) has wrapped up the previously announced $15.5 million sale of the WilPhoenix drilling rig to Well-Safe Solutions.

The deal was announced last month.

Awilco Drilling said that concurrent with the deal, the short-term shareholder loan with Awilhelmsen Offshore and QVT Family Office Fund has been redeemed.

Awilco Drilling wraps up sale of WilPhoenix rig to Well-Safe Solutions. Photo courtesy of Well-Safe Solutions.

The UK-based oil and gas drilling contractor revealed that its another semi-submersible rig — WilHunter is in the process of being divested for recycling.