The comeback in offshore exploration and production activity has given SFL Corp reasons to be optimistic and will boost its cashflow from this quarter onwards.
The second quarter was business as usual for the Fredriksen-backed leasing company, but new contracts signed for its drilling rigs have added an extra $200m to its contract backlog.
SFL’s semi-submersible ultra-deepwater rig Hercules has just completed its special survey and related upgrades and has been mobilised to Canada for a drilling contract with ExxonMobil.
