Shelf Drilling Announces Acquisition of Deep Driller 7 Jack-up Rig for USD 30 Million

Shelf Drilling Announces Acquisition of Deep Driller 7 Jack-up Rig for USD 30 Million

17 Jun 2022 15:24 CEST

PRESS RELEASE

SHELF DRILLING ANNOUNCES ACQUISITION OF DEEP DRILLER 7 JACK-UP RIG FOR USD 30
MILLION

Dubai, June 17, 2022 - Shelf Drilling, Ltd. ("Shelf Drilling", OSE: SHLF),
announces that one of its subsidiaries has entered into an agreement with a
subsidiary of Aban Offshore Limited to purchase the Deep Driller 7 jack-up
drilling rig for a purchase price of USD 30 million.

The Deep Driller 7 rig was built in 2008 and is of Baker Marine Pacific Class
375 design, currently located in the United Arab Emirates. Shelf Drilling plans
to fund the acquisition of the premium high-spec jack-up rig with cash on hand.

The transaction is subject to customary closing conditions, and the rig is
expected to be delivered in July 2022.

About Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling
contractor with rig operations across Middle East, Southeast Asia, India, West
Africa and the Mediterranean. Shelf Drilling was founded in 2012 and has
established itself as a leader within its industry through its fit-for-purpose
strategy and close working relationship with industry leading clients. The
company is incorporated under the laws of the Cayman Islands with corporate
headquarters in Dubai, United Arab Emirates. The company is listed on the Oslo
Stock Exchange under the ticker "SHLF".

Additional information about Shelf Drilling can be found at
www.shelfdrilling.com.

Contact details
For questions or comments, please contact [email protected]

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

Source

Shelf Drilling, Ltd.

Provider

Oslo Børs Newspoint