PetroRio Acquires Semi-submersible Rig from Aquadrill

(Image: Aquadrill)
(Image: Aquadrill)

Brazilian oil company PetroRio announced on Tuesday it entered into an agreement with U.K.-based Aquadrill to acquire the semi-submersible drilling rig Capricorn for $40 million.

The Friede & Goldman ExD millennium design rig was delivered in 2011 and is suitable for both for subsea services as well as for drilling in water depths from 80 meters to 3,000 meters. PetroRio said it will be used primarily in the revitalization campaigns of the current PRIO fields, but may also be leased to third parties in the future.

In a securities filing, the company said $1 million has already been paid as an exclusivity fee, and that it will pay $4 million if the company decides to proceed with the purchase until June 2022. The balance of the acquisition would be due upon delivery of the rig or on August 5, 2022, whichever comes first.

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