ADES to acquire seven jack-up assets of Seadrill for $628m.

ADES, an oil and gas drilling company, agreed to acquire seven jack-up assets of Seadrill, a provider of drilling and well services to the offshore industry, for $628m. "The sale of seven jack-ups to ADES is transformative for Seadrill. We are pleased to announce this transaction, which we believe crystallizes the valuation of these rigs at a substantially higher level than currently implied in Seadrill's share price. It will also enable us to significantly de-lever our balance sheet, positioning us for future opportunities," Simon Johnson, Seadrill CEO.