Vantage Drilling considers future as Northern bought by Shandong

摘要

Rig company Northern Offshore has accepted a US $165m bid from China's Shandong Offshore International while Vantage Drilling has brought in Lazard Freres to evaluate its future. Troubled Northern has a drillship, a semisub, a floating production platform, two harsh environment jack-ups as well as two high spec jack-ups on order. The board has recommended the cash offer saying it is: "without the risks associated with public market sentiment and the current economic environment."