16/11/2021, Las Palmas de Gran Canaria, Canary Islands, Spain.

A disastrous turnaround for the American owned oil exploration company Atlantica Tender Drilling, who have had to sell two of its three rigs, after reaching an agreement with two of their main creditor groups.

Ever since the oil price peaked in 2014, then crashed over the following five+ years, the offshore drilling rig market has been filled with unsustainable debts, by the companies who ordered, and had delivered, massively expensive drilling rigs and drillships.

This rig is just one example.
Built in 2015 at a cost of over $250 million, this rig has recently been sold to a group of Norwegian investors for 1% of it's original price - $2.5 million.

The rig is a Type BT3500 (designed by Bassoe Technology AB of Norway) "semi-submersible tender assist support unit with integrated drilling package" built by Dalian Shipbuilding Offshore Co. Ltd, Dalian, China, and delivered on 11/12/2015.

Then, to add to the costs, it was loaded aboard the "Mighty Servant III" for the 10,000 nautical mile, 5 week voyage to West Africa where it commenced a term development drilling contract for Total Congo.
The 'Atlantica Delta' was positioned in 800m of water with pre-laid mooring adjacent to the recently delivered Moho Nord TLP.

Rig details are currently still displayed on Atlantica's website:
https://www.atlanticatd.com/assets/delta