Aban Offshore to Sell Four Jack-ups to ADES for $106 Million

Indian offshore drilling contractor Aban Offshore has agreed to sell four offshore drilling rigs to ADES for $106 million in total.

Aban said that its Board had, at a meeting held on March 23, approved the sale of the jack-up drilling rigs Deep Driller 2, Deep Driller 4, Deep Driller 5, and Deep Driller 6.  The company last week agreed to sell the rigs to ADES Saudi Limited Company with the expected sale closure set for May 31, 2022.

The Deep Driller 2 is being sold for $26 million, the Deep Driller 4 for $26 million, the Deep Driller 5 for $27 million, and the Deep Driller 6 for $27 million.

The sale is subject to the approval of shareholders and Aban is seeking approvals through Postal Ballot.