Diamond Offshore renames rig Ocean Valor

Diamond Offshore Drilling Inc. bought the newbuild 7,500-ft, dynamically positioned semisubmersible PetroRig II and renamed it the Ocean Valor.

Oct. 14, 2009

By OGJ editors
HOUSTON, Oct. 14 -- Diamond Offshore Drilling Inc. bought the newbuild 7,500-ft, dynamically positioned semisubmersible PetroRig II and renamed it the Ocean Valor.

The rig is being constructed in Jurong Shipyard Pte. Ltd. in Singapore.

Diamond Offshore bought the construction contract from PetroRig II Pte. Ltd. for $490 million exclusive of initial mobilization costs, final commissioning, drillstring, and necessary spares.

In late June, in an unrelated transaction, Diamond Offshore bought the newbuild dynamically positioned semisubmersible offshore drilling unit PetroRig I and renamed it the Ocean Courage (OGJ, Sept. 14, 2009, p. 46).