Deep Value Driller AS – Sale of its Seventh‑Generation Drillship
Deep Value Driller AS, a Norwegian company listed on the Oslo Bors ASA, has entered into an agreement to sell its seventh‑generation mobile offshore drilling unit, the Deep Value Driller, to Italian engineering and energy contractor Saipem. The transaction was announced on 17 February 2026 and is valued at US $272.5 million.
Key terms of the agreement
| Item | Detail |
|---|---|
| Buyer | Saipem S.p.A. (Portugal subsidiary) |
| Seller | Deep Value Driller AS (DVD) |
| Purchase price | US $272.5 million |
| Unit | Seventh‑generation drillship, originally built in 2014, formerly known as Bolette Dolphin |
| Current status | Operating in Indonesia under a bare‑boat charter that expires on 31 July 2026 |
| Completion date | Expected by the charter’s expiry, contingent on board approvals |
| Board approval | Required from both Saipem and Deep Value Driller AS |
The bare‑boat charter, which is currently in force until the end of July 2026, will be extended for a firm period of 31 days to allow for the transfer of ownership. The deal is part of Saipem’s strategy to strengthen its offshore drilling fleet while maintaining a disciplined approach to asset acquisition.
Impact on Deep Value Driller AS
The sale is the first major transaction involving Deep Value Driller AS since its listing on the Oslo Bors. The company’s market capitalization is NOK 1.86 billion, with a 52‑week high of NOK 21.9 and a low of NOK 10. The share price closed at NOK 20.5 on 12 February 2026, and the price‑earnings ratio stands at 8.53. The divestiture is expected to provide a significant cash inflow and allow the company to focus on its core activities.
Regulatory and market context
The transaction is subject to the usual regulatory approvals in Norway and Italy. No immediate regulatory hurdles have been reported. The deal has been covered by multiple financial news outlets, including Finanza Lastampa, Trend, Il Giornale d’Italia, Live Euronext, and Splash247.
Summary
Deep Value Driller AS has agreed to sell its drillship to Saipem for US $272.5 million. The unit is currently operating in Indonesia under a bare‑boat charter that will expire on 31 July 2026. The transaction is pending board approvals and is expected to close by the end of the current charter period.
