Odfjell Drilling Ltd

XMUN:OD3

Business Description

Sector

Energy

Headquarters

Bermuda BM

Employees

2 916

IPO date

Sep 27, 2013

Odfjell Drilling is an offshore drilling contractor that provides rigs and drilling services to oil and gas companies. It owns and operates specialized drilling units, especially rigs built for harsh offshore conditions, and it also works on platform drilling jobs where it manages drilling operations on existing facilities.

Its main customers are oil and gas producers and field operators that need a drilling contractor to help them drill new wells, maintain wells, or run drilling programs in demanding offshore locations. Odfjell Drilling earns money mainly through contract day rates and related drilling service agreements, where customers pay for the use of its rigs, crews, and operating expertise.

What makes the business different is that it sits in a very specific part of the energy supply chain: it is not an oil producer, but the specialist that helps producers access offshore reserves. That means its value comes from technical execution, safety, reliability, and the ability to keep expensive offshore equipment working in difficult environments.