Interesting news appeared while traders and investors were discussing a flurry of news from Transocean (RIG), Diamond Offshore (DO) and EnscoRowan (ESV). Northern Drilling, whose rigs are managed by Seadrill (SDRL), announced that it had exercised the option to purchase drillship Cobalt Explorer from Daewoo Shipbuilding & Marine Engineering ((DSME)).
The company is paying $350 million split as follows:
- $12 million paid in December 2018;
- $93 million will be paid in five payments of $18.6 million over 10 months, starting June 2019; and
- $245 million will be