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Jindal Drilling acquires jack-up rig ‘Jindal Pioneer’

05 Mar 2025 Evaluate

Jindal Drilling & Industries has acquired jack-up rig ‘Jindal Pioneer’ from Discovery Drilling, Singapore, (a joint venture of the company), at a consideration of $75 million. The said acquisition is funded by internal accruals and it shall improve operational synergies, increase scale of operations and profitability of the company. The rig is currently on a bareboat charter.

Jindal Drilling & Industries is one of the leading drilling contractor in India providing service to national and international E&P companies.


Peers
Company Name CMP
ONGC 221.10
Oil India 442.65
Jindal Drilling&Inds 572.80
Deep Industries 746.50
Asian Energy Service 450.15
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