Transocean is reported to be looking to acquire the semi-submersible drilling rig West Rigel, according to analysts in Singapore.
The rig is currently held in a standstill agreement between the builder Sembcorp Marine (SMM) and John Fredriksen-backed North Atlantic Drilling (NADL).
“An acquisition, if any, will be timely and a huge positive given the bankruptcy risk of NADL,” said UOB Kay Hian analyst Foo Zhi Wei.
