Acquisitions5 Mar 2025, 04:33 pm
JINDAL DRILLING Acquires Jack-up Rig 'Jindal Pioneer' for USD 75 Million
AI Summary
JINDAL DRILLING & INDUSTRIES LTD. has announced the acquisition of the jack-up rig 'Jindal Pioneer' from Discovery Drilling Pte. Ltd., Singapore. The acquisition, made at a cost of USD 75 million, is funded through internal accruals. The rig, currently on a bareboat charter, is expected to enhance operational synergies, increase the scale of operations, and improve profitability for the company.
Key Highlights
- JINDAL DRILLING acquires jack-up rig 'Jindal Pioneer' for USD 75 million
- Acquisition funded through internal accruals
- Rig currently on a bareboat charter
- Expected to enhance operational synergies
- Likely to increase the scale of operations and improve profitability