Standard Drilling of Cyprus is on the brink of offloading one of seven jack-up drilling rigs it has on order at Keppel FELS.
Oslo-listed Standard says it expects to book a gain of approximately $0.15 per share when control of the B319 newbuilding contract is transferred to a buyer in the UK.
While the company did not pin down a price in an exchange filing that confirmed the transaction, the unit appears to have fetched around $39.3m assuming the owner based its profit calculation on 262 million issued shares.
According to Standard’s most recent prospectus, the company penned the B319 construction contract on 23 November 2010. The total cost of the rig, which is expected to hit the water in July 2012, is believed to be around $183.4m.
The six remaining jack-ups are scheduled for delivery between July 2012 and May 2014.