The premise of a jackup rig is that it is self-elevating; here, the legs are stationed on ocean floor and the drilling equipment is jacked up above the ... involves three or four legs, there ...

Knowing that current market prices for jack-up rigs are around $180,000 per day, the payback period of ~4.5 years is not compelling enough to attract new orders. Even if an offshore drilling ...

Brazilian state-controlled oil company Petrobras has welcomed four commercial proposals in a tender to charter a jack-up drilling rig for intervention work at several shallow-water fields in the ...

Offshore drilling contractor Seadrill has completed the sale of its jack-up rig West Prospero for $45m. Built in 2007, the West Prospero is an independent-leg cantilever jack-up rig with an ...