Conyers provided Bermuda law advice and assistance to Shelf Drilling (North Sea), Ltd. (“Shelf Drilling North Sea”) on its continuance to Bermuda from the Cayman Islands, completion of its private placement of new shares in connection with its acquisition of five jack-up rigs from various subsidiaries of Noble Corporation, and its admission to and listing on the Euronext Growth Oslo (ticker: SDNS).
Shelf Drilling North Sea is a shallow water offshore drilling contractor operating primarily in the North Sea. Shelf Drilling North Sea’s fit-for-purpose strategy and fleet of modern high-specification harsh environment jack-up rigs enable it to offer a broad range of services in the shallow water drilling markets.
At opening on Euronext Growth Oslo, Shelf Drilling North Sea’s share price was set at NOK 21.32 per share, corresponding to an estimated total market value of US$200 million, equivalent to NOK 2.1 billion.
Director, Guy Cooper and Associate, Andrew Barnes of Conyers’ Bermuda office advised on the matter.