(Bloomberg) -- Transocean Inc. agreed to buy
GlobalSantaFe Corp. for about $17 billion, combining the world's
two largest offshore oil and gas drillers as growing demand for
rigs pushes rents to a record.
The new company will be triple the size of its largest peer
by sales, Noble Corp., with 146 rigs and an order backlog of $33
billion. In a statement, Transocean and GlobalSantaFe, both
based in Houston, called the transaction a merger, with
shareholders on neither side getting a premium for their stock.
Read more at Bloomberg Energy News
GlobalSantaFe Corp. for about $17 billion, combining the world's
two largest offshore oil and gas drillers as growing demand for
rigs pushes rents to a record.
The new company will be triple the size of its largest peer
by sales, Noble Corp., with 146 rigs and an order backlog of $33
billion. In a statement, Transocean and GlobalSantaFe, both
based in Houston, called the transaction a merger, with
shareholders on neither side getting a premium for their stock.
Read more at Bloomberg Energy News
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