Energy Holdings, a company created through a merger of Marine seismic player SeaBird Exploration and Singapore’s tender drilling rig specialist Energy Drilling, has lined up its first deal.
The company said in a filing that Energy Drilling has secured a letter of intent with an undisclosed client for a multi-year offshore drilling contract, which is expected to “contribute significantly” to the company’s backlog and earnings visibility over the coming years.
“Further details will be provided upon formal contract signing and subject to client approval for public disclosure,” Energy Holdings added.
SeaBird and Energy Drilling recently merged in a share-for-share deal that saw the shareholders of the latter company own about 89% of the new diversified offshore oil and gas services player with two seismic vessels and six tender rig assets.
