Seadrill Closes Sale of West Prospero Jack-up Rig

Dow Jones

Dec 27, 2024

By Stephen Nakrosis

Seadrill said Thursday it completed the sale of its West Prospero jack-up rig for $45 million in cash proceeds.

The West Prospero was built in 2007, and operated in Northeast Africa as well as Southeast Asia.

A jack-up rig is a mobile platform which can be used for exploratory oil and gas drilling after being transported by tugs or other ships.

President and Chief Executive Officer, Simon Johnson, said Seadrill was able to monetize a non-core asset and execute its strategy to exit the benign jack-up market.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

December 26, 2024 16:32 ET (21:32 GMT)

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