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Ocean Rig to reactivate stacked semi-sub after selling two to subsidiary

Ocean Rig to reactivate stacked semi-sub after selling two to subsidiary

first_imgEirik RaudeOffshore drilling contractor Ocean Rig is selling its only two semi-submersible drilling rigs to its subsidiary. Ocean Rig on Monday announced the launch of an offering of common shares by its wholly-owned Marshall Islands subsidiary, Valiant Offshore, which upon the completion of the offering will acquire the Leiv Eiriksson and the Eirik Raude, two fifth generation harsh environment semi-submersible rigs.The rigs are currently indirectly owned Ocean Rig and they will be sold in exchange for 24 million shares of Valiant (representing approximately 57.8% of the issued share capital of Valiant) and cash in the amount of $110 million, expected to be used towards reactivating the Eirik Raude, which is currently cold-stacked in Greece.When it comes to Ocean Rig’s other semi-sub, the driller said on Monday it had signed a master service agreement with ConocoPhillips Skandinavia for a term of three years plus two optional years. The drilling program order will be performed by the Leiv Eiriksson.Ocean Rig further said that an additional 17.5 million shares of Valiant (representing approximately 42.2% of the share capital of Valiant) are expected to be sold in the offering. Valiant intends to use the net proceeds from the offering as partial payment for the acquisition of the Leiv Eiriksson, for working capital and for general corporate purposes. It is expected that the Leiv Eiriksson will be delivered to Valiant with its current drilling contracts in place, which is scheduled to take place within ninety days after the closing of this offering.The Eirik Raude will be delivered to Valiant following its reactivation, which is expected to take place within twelve to fifteen months and no later than eighteen months from the closing of the offering.The shares of Valiant will be offered and sold in the United States to qualified institutional buyers pursuant to applicable exemptions from the registration requirements under the U.S. Securities Act of 1933 and outside the United States pursuant to Regulation S under the Securities Act of 1933.Related: <span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span> Delivery last_img read more

Dier finds his way back home

Dier finds his way back home

first_img “It has always been my ambition and my dream to come back to England and play in the Premier League. “The reason I moved to Portugal was nothing to do with football – it was because of my family. “We moved there when I was six, I got picked up by Sporting when I was eight and I went through their youth system, all the way to the first team. “It is kind of a strange background and everyone seems surprised by it. But it just happened that way really. “At the beginning it was hard because I didn’t really speak the language. I was seen as a bit of an outsider. “But after I picked up the language when I was 12 or 13, it was really easy. I don’t think they saw me as English – they pretty much saw me like one of their own. “The Premier League was still the only league I watched really. It is on television in Portugal and it is the biggest league in the world in my opinion. “Obviously I’ve watched a lot of Tottenham, and I’ve always enjoyed the way they play, their attacking football. “I think, coming from Portugal, that suits me and this season I just want to adapt really quickly to the Premier League and do the best I can.” Dier, who had a spell on loan with Everton in 2011 to further his experience, made 26 league appearances overall for Sporting after making his debut in November 2012. Eric Dier admits it has been something of a “strange” journey that has taken him to signing for Tottenham – and he feels he is fulfilling a dream now the transfer is complete. The 20-year-old Cheltenham-born player, who can operate as a defender or holding midfielder, has joined the Barclays Premier League side from Portuguese club Sporting Lisbon, where he came through the youth ranks. Having finalised his switch on a five-year deal for around £4million, the England Under-21 international told Spurs TV: “I am really excited to be joining such a big club. center_img Press Associationlast_img read more

NBA Draft 2019: 3 teams with the most on the line

NBA Draft 2019: 3 teams with the most on the line

first_img NBA free agency rumors: Lakers, Knicks, Mavericks most interested in Kemba Walker NBA Draft 2019: 3 teams with the most on the lineNew York KnicksNew York had its sights set on getting the top pick and selecting Zion Williamson, but things didn’t shake out its way. Instead, the Knicks ended up with the No. 3 overall pick and are expected to select another Duke star, RJ Barrett. Related News The Knicks appeared to be front-runners to land Kevin Durant and Kyrie Irving in free agency this summer, but recent reports suggest otherwise. New York also was reluctant to part with young assets to land the Pelicans’ Anthony Davis in a trade and missed that train, as the Lakers forked over a massive hall to secure the superstar.In a market that emphasizes going for championships as soon as possible, making the right selection is imperative.Phoenix SunsYet another victim of unexpected draft lottery results, the Suns were banking on landing in the top three, but instead sit at sixth. Phoenix is in dire need of a point guard, as it’s makeshift depth chart at the position caused the young team plenty of problems last season. It seems unlikely that the Suns will get a chance to select Ja Morant out of Murray State — 2019’s most coveted floor general.Darius Garland appears as if he could be a consolation prize, though. He was productive at Vanderbilt in a limited college career hampered by an early knee injury. However, reports suggest Phoenix also is willing to trade for a veteran guard who is ready to play now.The Suns’ assortment of combo wings hasn’t led to much success so far, so they need to discover some sense of direction, especially since they have a new coach and general manager.Charlotte HornetsThe Hornets this offseason could lose what has brought most fans to games. Kemba Walker is coming off a career year in which he averaged 25.6 points per game and was third-team All-NBA. NBA Draft 2019: RJ Barrett wants Knicks to pick him at No. 3, won’t work out for any other team NBA Draft 2019 rumors: Suns willing to trade No. 6 pick for veteran guard Walker, 29, qualified for a supermax deal, which could cripple Charlotte and limit its ability to build a better team around him. He is willing to take less, but he also wants to win — very soon.The Hornets have significant money tied up in players like Marvin Williams, Michael Kidd-Gilchrist, Nic Batum and Bismack Biyombo, who haven’t contributed much in recent seasons. But they also have young assets like Miles Bridges and Malik Monk that they could use for leverage in a trade for a big-time player.Charlotte has the No. 12 pick in Thursday’s draft but is reportedly looking for a way to move up. The Hornets need a game-changer, and it’s not likely they’ll find one at No. 12 who can make a difference immediately on a playoff team. This year’s NBA Draft could help quite a few teams accelerate their progress toward success — or set them back.It’s crazy how a few picks can change the direction of a franchise, and some have a lot on the line in 2019.last_img read more

Women’s World Cup 2019: Alex Morgan says she’s motivated by winning tournament, not Golden Boot

Women’s World Cup 2019: Alex Morgan says she’s motivated by winning tournament, not Golden Boot

first_img“I would love someone on our team to win the Golden Boot, it would be a great accolade, but that’s not my goal, my goal is to help this team win a World Cup,” Morgan told a news conference on Sunday. Women’s World Cup 2019: Full bracket, dates, times, TV channels, results for every match Alex Morgan is not troubled by her four-game goal drought because the United States winning the Women’s World Cup is a bigger priority to her than the Golden Boot.The 29-year-old laid down an early marker to finish as the tournament’s top scorer with a five-goal haul in USA’s 13-0 mauling of Thailand in its first group game. However, since then she has failed to find the target, not that USA have missed a beat thanks to back-to-back braces from Megan Rapinoe, which ensured Jill Ellis’ team progressed to Tuesday’s semifinal with England in Lyon.Morgan, Rapinoe, Lionesses forward Ellen White and Australia’s Sam Kerr are all leading the Golden Boot race with five goals each yet the former insists she would sacrifice winning the individual prize for collective glory.  Related News “As long as the goals continue to come then I’m happy. That’s not goals continuing to come from me, that’s this team.5 – Alex Morgan is the second player in #FIFAWWC history to score five goals in a single game, doing so 27 years and 199 days after fellow @USWNT international Michelle Akers managed this feat against Chinese Taipei in November 1991. Decimated. pic.twitter.com/kkl7kay7Rz— OptaJoe (@OptaJoe) June 11, 2019″Right now Megan Rapinoe has put the team on her back from Spain [in the last 16] to France [in the quarterfinals] and it’s going to take players like that and individuals each game to step up and help carry this team.”Pinoe has done that in great fashion last two games.”last_img read more