Shelf Drilling (SHLLF) has released an update.
Shelf Drilling has finalized the sale of its jack-up rig, the Baltic, for USD 60 million and confirmed the receipt of funds. The new owner plans to use the rig for a multi-year plug and abandonment program in Malaysia, with Shelf Drilling providing ongoing management and operational support. The company is an established leader in shallow water offshore drilling with a global operational footprint.
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