CHAMP-backed Shelf Drilling completes $1b acquisition
Shelf Drilling, the Dubai-based shallow water drilling services company backed by Australia’s CHAMP Private Equity, its US affiliate Castle Harlan, and Lime Rock Partners, has completed the acquisition of assets worth $1.05 billion. The PE investment, announced in September, was always intended to finance this deal.
Shelf Drilling has bought 37 jackup drilling rigs, one swamp barge and associated operations from US-listed Transocean. As part of the transaction, approximately 3,500 employees will also transfer to the...
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