Shelf Drilling (SHLLF) has released an update.
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Shelf Drilling has announced the sale of its Main Pass I rig for $11 million, marking the rig’s permanent retirement from drilling operations. The company plans to repurpose the rig’s major equipment and inventory for use across its fleet. The transaction is expected to conclude by February 2025, following the termination of the rig’s suspended drilling contract in the Middle East.
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