Page 17: of Offshore Engineer Magazine (May/Jun 2026)

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MARKETS DRILLSHIPS ost-transaction, the company’s feet will com- over the past fve years has divested 12 jackups, one semi- prise four drillships - including a 25% stake in sub and three tender-assist rigs.

Tungsten Explorer and the pending acquisition of • ADES’ all-cash acquisition of Shelf Drilling Limited,

Deep Value Driller - alongside two managed jack- including its 33 jackup feet, concluded in November

P ups that are owned by ADES. While modest in scale, the 2025.

merger refects a continued strategic push toward consoli- • Transocean’s pending acquisition of Valaris - expected dation and scale-building in the offshore drilling rig sector. to close in second half of 2026.

• Borr Drilling’s ongoing jackup expansion, including the acquisition of fve units from Fontis Energy, expected

Positioning in a Consolidating Market

This deal is the latest in a series of M&A moves reshap- to close 2H 2026, in addition to the aforementioned ac- ing the offshore drilling landscape. Over the past fve years, quisition of fve jackups from Noble.

consolidation has accelerated as drilling contractors seek scale, effciency, and stronger market positioning. Against this backdrop, the Eldorado-Vantage deal is

Notable transactions include: smaller in scale but consistent with the broader trend: • Noble Corporation’s acquisitions of Pacifc Drilling, companies consolidating to optimise feet composition,

Maersk Drilling and Diamond Offshore, that completed improve utilisation, and enhance competitive positioning in April 2021, October 2022 and September 2024, respec- in a tightening offshore market.

tively. This was followed by the divestment of fve non- There are currently 18 rig managers in the global drill- core jackups to Borr Drilling in 2026 and one to Ocean ship market pre-closing of ongoing merger deals. As it cur-

Oilfeld with sale closure still pending. rently stands, Transocean has the largest feet and will retain • Seadrill acquired Aquadrill in April 2023; however, this position following its pending acquisition of Valaris.

MAY/JUNE 2026 OFFSHORE ENGINEER 17