Seadrill to sell 3 jackups in Qatar to Gulf Drilling International

Seadrill entered into a definitive agreement to sell its three jackups in Qatar — the West Castor, the West Telesto and the West Tucana — and its 50% equity interest in the joint venture that operates these rigs to Seadrill’s joint venture partner Gulf Drilling International for cash proceeds of $338 million.

The transaction is expected to close early Q3 2024.

“Our divestiture of the Qatar jackup fleet and exit from the joint venture are consistent with our ongoing efforts to strengthen and simplify our business and will allow us to focus on Seadrill’s core business: operating deepwater rigs across the Golden Triangle and similarly advantaged geographies,” remarked Simon Johnson, President and CEO.