SFL Secures $170m Canadian Drilling Contract for Hercules Rig

SFL has signed a $170m drilling contract with a multinational oil and gas operator for the Hercules semi-submersible rig in Canada, with a minimum term of 400 days starting in Q1 2027. The rig will be prepared for mobilization to Canadian waters later this year and managed by Odfjell Drilling on behalf of SFL. The Hercules is designed for deep-water and harsh environment operations, including Arctic conditions. SFL's CEO Ole Hjertaker sees significant demand for harsh environment, deep-water capable semi-submersibles towards the end of the decade.