Seadrill to acquire Aquadrill to create major offshore drilling company

Seadrill to acquire Aquadrill to create major offshore drilling company

Seadrill, a Bermuda-incorporated offshore drilling contractor, will acquire offshore rig owner Aquadrill in an all-stock transaction valued at an implied equity value of around $958 million. Post-closing, Seadrill stakeholders will own 62% and Aquadrill unitholders will hold 38% of the outstanding common shares in the combined entity. Aquadrill is a UK-based limited liability company that […]

Seadrill wins $105m contracts for West Neptune and Sevan Louisiana rigs

Seadrill wins $105m contracts for West Neptune and Sevan Louisiana rigs

Seadrill Limited, an offshore drilling contractor, has won new contracts totaling $105 million for the West Neptune and the Sevan Louisiana drillships. The West Neptune drillship has won a contract extension for drilling four more wells with two one-well options from LLOG Exploration Offshore in the US Gulf of Mexico. The firm-term will begin, continuing […]

AXP Energy to supply gas to cryptocurrency mining company Elite Mining

AXP Energy to supply gas to cryptocurrency mining company Elite Mining

AXP Energy has signed a binding heads of agreement (HOA) with cryptocurrency mining company Elite Mining to provide gas to the latter’s in-situ power generation for the cryptocurrency mining sector in the US. As per the agreement, AXP Energy will be provide stranded gas from its Pathfinder field in Colorado, all associated gas gathering infrastructure […]