Oslo, Norway-based Ferncliff TIH AS plans to acquire a fleet of three self-erecting, tender-assist rigs from Pride International Inc., Houston, (NYSE: PDE) for US$213 million in cash. The three units, Al Baraka I, Alligator and Barracuda, are currently under contract and operating offshore West Africa. The sale is part of Pride's strategic direction to focus its offshore drilling operations in deepwater and other high specification assets.
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