Jindal Drilling and Industries Ltd. has strengthened its offshore drilling capabilities with the acquisition of the jack-up rig “Jindal Pioneer” from Discovery Drilling Pte. Ltd., Singapore. The purchase, valued at $75 million, is a strategic move aimed at enhancing operational efficiency, increasing profitability, and expanding the company’s scale of operations.
The acquisition has been fully funded through internal accruals, reflecting Jindal Drilling’s strong financial position and commitment to growth. The rig is currently operating under a bareboat charter, ensuring a smooth transition into Jindal Drilling’s existing fleet.
By adding Jindal Pioneer to its portfolio, Jindal Drilling aims to strengthen its market presence in offshore oil and gas exploration. This investment aligns with the company’s long-term strategy of improving operational synergies and boosting overall efficiency in offshore drilling operations.
In the meantime, Jindal Drilling shares opened today at ₹795.00, hitting a high of ₹853.95 and a low of ₹794.95. The stock’s 52-week high stands at ₹990.35, while the low is ₹520.00.
