SFL - Announces $170 Million Contract for Semi-Submersible Rig Hercules

Core Viewpoint - SFL Corporation Ltd. has secured a drilling contract valued at approximately $170 million for the semi-submersible rig Hercules, which will operate in Canada for a minimum term of 400 days, starting in the first quarter of 2027 [1][2][3]. Contract Details - The contract is with a large, investment-grade multinational oil and gas company and is expected to commence in Q1 2027 [2]. - The Hercules rig is currently located in Norway and will be prepared for mobilization to Canada later this year [2]. Management Commentary - Ole B. Hjertaker, CEO of SFL Management AS, expressed satisfaction in securing the contract, highlighting the significant demand for harsh environment, deepwater capable semi-submersibles towards the end of the decade [3]. Company Background - SFL Corporation Ltd. has a strong track record in the maritime industry, having paid dividends every quarter since its initial listing on the New York Stock Exchange in 2004 [4]. - The company's fleet includes various types of vessels such as tankers, container vessels, car carriers, bulkers, and offshore rigs, supported by long-term charters and growth in its asset base [4].