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Shelf Drilling ( (SHLLF) ) has shared an announcement.
Shelf Drilling has secured a three-year contract with India’s Oil and Natural Gas Corporation (ONGC) for the J.T. Angel jack-up rig, valued at approximately USD 40 million, with operations set to begin in October 2025. The company is also planning to sell the Trident XII rig, which is currently stacked in India, for non-drilling purposes, reflecting its ongoing fleet review and strategic market positioning in India.
More about Shelf Drilling
Shelf Drilling is a leading international shallow water offshore drilling contractor with operations across various regions including the Middle East, Southeast Asia, India, West Africa, the Mediterranean, and the North Sea. Founded in 2012, the company has established itself as an industry leader through its fit-for-purpose strategy and strong relationships with leading clients. It is incorporated in the Cayman Islands and headquartered in Dubai, UAE, and is listed on the Oslo Stock Exchange.
Average Trading Volume: 1,830,578
Current Market Cap: NOK2.25B
For detailed information about SHLLF stock, go to TipRanks’ Stock Analysis page.