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RIG - Sete Rigs Bids Are Revealed Yard Values Semi-Subs Much Lower Than Borr Drilling's Shareholder
Transocean Ltd
Earlier this month, I have written about the very interesting process of selling four Sete Brazil rigs which are on contracts with Petrobras (PBR). New information is out, and it contains some very interesting numbers.
First, a quick reminder: Sete Brazil was a mega project to construct 29 rigs in Brazil. It turned out to be a failure, and only four rigs survived. They have received 10-year contracts at day rates of $299,000. The buyer will have to finish the construction of these rigs. The sale process is likely an ultimate attempt