Shelf Drilling sells elderly rig

UAE-based jackup drilling rig operator Shelf Drilling has sold its 1976-built jackup rig Key Gibraltar, the company revealed in its latest fleet status report.

The rig is believed to have been sent to for scrap.

In the meantime, the company held another three old rigs for sale, the 1980-built Rig 124, 1980-built Comet and 1982-built Adriatic X.

Last month, Shelf Drilling announced agreements with affiliates of China Merchants to acquire two newbuild CJ46 jack-up rigs for a purchase price of $87m each, and bareboat charter with option to purchase of two additional rigs.