New rescue initiative on the way for Norwegian drilling market

Drilling company Fred. Olsen Energy needs more equity to remain solvent, writes Danske Bank Markets in an analysis.

Photo: Premier Oil/PR

A new drama could flourish in the Norwegian oil industry after several banks launched a comprehensive rescue plan of drilling company Seadrill, owned by Norwegian magnate John Fredriksen.

Drilling company Fred.Olsen Energy is also plagued by debt and it is unable to settle debt expiring in 2018 and 2019, writes Danske Bank Markets in an analysis.

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