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The latest update is out from Deep Value Driller AS ( (DE:9YG) ).
Deep Value Driller AS has agreed to sell its 7th generation ultra-deepwater drillship Deep Value Driller to Saipem for USD 272.5 million in cash. The board concluded that the negotiated sale terms, reached after Saipem declined to exercise its original purchase option, represent the most favourable outcome for shareholders compared to other strategic alternatives.
Completion of the transaction is expected before the current bareboat charter with Saipem expires on 31 July 2026, with the charter and hire payments remaining in force until closing. Following board approvals, the company plans to continue monthly dividends from March 2026 and intends to distribute the net sale proceeds to shareholders, underscoring a strong focus on direct capital return.
More about Deep Value Driller AS
Deep Value Driller AS is a Norway-based drillship-owning company focused on the offshore oil and gas sector. It owns the high-specification ultra-deepwater 7th generation drillship Deep Value Driller, built in 2014, and aims to create value for customers and investors while ensuring safe and sustainable operation of its offshore drilling asset.
Average Trading Volume: 200,601
Current Market Cap: NOK1.87B
For a thorough assessment of 9YG stock, go to TipRanks’ Stock Analysis page.