Standard Drilling has completed the sale of its platform supplier Standard Supporter

S.D Standard Drilling completed the sale of Standard Supporter
Caption: Offshore Tug/Supply Ship - Image courtesy of Tom Duncan

Earlier in November 2019 the Company had entered into a Memorandum of Agreement to sell one of its large Norwegian built Platform Supply Vessels, the Standard Supporter, for USD 15 million.

The transaction was completed today on 10 December 2019.  

S.D Standard Drilling Plc. has, through its subsidiary, Standard Supporter AS, received the transaction amount in full.   

Following the sale, the Company will control, directly and indirectly, a fleet of 13 PSVs; four (4) large PSVs 100% owned and nine (9) medium-sized PSVs with approximately 26% ownership interest, including one vessel on a bare boat contract. 

Source: Standard Drilling