Diamond Offshore Drilling Inc. has completed the purchase of the semisubmersible offshore drilling unit PetroRig I from Jurong Shipyard Pte Ltd.
The rig, to be renamed Ocean Courage, was bought for $460 million exclusive of initial mobilization costs, drillstring, and other necessary spares.
Analysts at Pritchard Capital Partners noted that market sources indicate that the company is contemplating following Pride International Inc. by offering special incentives to operators for contracting their rigs during hurricane season, although both stressed concessions would be made on a case-by-case basis. Diamond Offshore currently has three available Gulf of Mexico (3 more cold stacked).