New restructuring on the way in Norway's drilling market

Drilling company Fred. Olsen Energy needs more equity to remain solvent, writes Danske Bank Markets in an analysis.

Photo: Seadrill

A new drama could be emerging in the Norwegian oil industry just after several banks launched a comprehensive rescue plan of drilling company Seadrill, owned by Norwegian magnate John Fredriksen.

Drilling company Fred. Olsen Energy (FOE) is also plagued by debt and it is unable to settle debt expiring in 2018 and 2019, writes Danske Bank Markets in an analysis.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Nuclear startup hires profile from Maersk Drilling

Nuclear developer Seaborg recruits Maersk Drilling's strategy and business finance chief, Dominic Charnock, who served at Maersk since 2017, most recently as vice president. The new employer has the potential to help mitigate climate change and provide "energy fairness", says the newly appointed CFO.

Further reading

Related articles

Latest news

See all jobs