Brazil-focused driller Ventura Offshore has reached an acquisition settlement for the Catarina semisub drilling rig, bought from Umas 1 in June 2024. The two companies agreed on a gross purchase price of $105m for the 2012-built rig. Delivery of the rig was agreed for the end of July 2024. As part of the agreement, Umas 1 was also entitled to cashflow compensation for five years from the delivery of the Catarina. In addition to the $105m, the seller was set to receive 17.5% of the free cashflow generated by the rig. Before the buy, the rig was managed and operated by Universal Energy Resources, a wholly-owned subsidiary of Ventura Offshore. Umas 1 has agreed to be paid a lump sum of $8m as a full and final settlement for all earnings under the profit split since the start of a contract with Italian major Eni in August 2024. The sum also covers the 17.5% profit split and all amounts outstanding concerning the final accounts and working capital of the rig in connection with its acquisition. Catarina is currently on a well-based contract with Eni in Indonesia. It is estimated that the rig will remain busy into the fourth quarter of 2025. In addition to the current firm wells, the Italian firm has options for five fixed-price wells, four in Indonesia and one in Vietnam. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsBrazil