• In December 2nd, 2010, the Company was incorporated in Cyprus as a private limited liability company under the name of S.D. Standard Drilling Limited and on 23 December 2010, was converted into a public limited liability company and its name was changed to S.D. Standard Drilling Plc.
  • The Company was established to capitalize on the strong market opportunity and demand for premium jack-up rigs due to an aging worldwide rig fleet that required replacement, new technologies and environmental features which were more desirable in the current regulatory environment.
  • In December 2010, the Company conducted one Private Placement and raised a total USD 42million.
  • After the successful Private Placement, net proceeds were used to order and initiate the construction of one jack-up rig , B319, at KFELS in Singapore, using a well-known design, The MOD V-B Class design.


  • On the 25th of March 2011, S.D. Standard Drilling expanded its access to the capital markets with the listing of the Company’s shares on the Oslo Axess and begins trading under the ticker SDSD.
  • In an extraordinary general meeting in May, 2011, it was resolved to increase the company’s authorised share capital to USD3,620,000, divided into 362,000,000 shares, each with a par value of USD0.01.
  • In May 2011, Standard Drilling successfully attracted a diverse investors base on a US$330 million private placement.
  • Proceeds are used to acquire the entire share capital of Offshore Driller B324 Ltd and Offshore Driller B325 Ltd, Cayman Island Companies, from Clearwater Capital Partners Fund III, L.P, each holding a construction agreement for one MOD V B-Class rig contract.
  • Simultaneously, the company expands its fleet by ordering four additional MOD V B-Class at Keppel FELS Shipyard (B337, B338, B339 and B340).
  • On the same year, the Company incorporates five wholly owned Cayman Island subsidiaries: the Offshore Driller 1 Ltd, Offshore Driller 2 Ltd, Offshore Driller 3 Ltd, Offshore Driller 4 Ltd and Offshore Driller 5 Ltd, each holding one construction contract with Keppel FELS.
  • During the second half of 2011, the Company starts the process of building its corporate head quarter in Singapore and incorporates a subsidiary under the name of Standard Drilling (Singapore) Pte Ltd.
  • In September 2011, the Company strengthened its financial position with the sale of the shares held in Cayman subsidiary company, Offshore Driller 5 Ltd which owns the rig B319, prior to delivery of the rig.

2012 - 2013

  • In 2012, as a result of opportunities that became concurrently available in the oil and gas market, the Board of Directors decides to sell the remaining six rig building contracts prior to delivery and all Cayman Island Subsidiaries were dissolved or Sold.
  • This had the benefits of recognising significant gains relative to the contracted cost associated with new build contracts.
  • On December 2012, the Company announced an interim, divided of USD0.14 per share and USD36.7 million was paid to shareholders.
  • On the 5th of March 2013, in an extraordinary general meeting it was resolved that the share premium account of the company to be reduced from 369.4M to USD39.9M. The amount of USD320M was returned to the registered shareholders of the Company, corresponding to USD1.22 per share.
  • On May 2013, the Company announced an interim, divided of USD0.26 per share and USD68.1 million was paid to the Company’s registered shareholders.

2014 - 2015

  • In 2014, the Company, having sold all initial rig building contracts, changed its strategy from building up to become an operator of rigs, to being an investment company within the oil and gas service sector.
  • In December 2015, Standard Drilling (Singapore) Pte Ltd, was struck off the register of companies.
  • The success of the 2010-2013 cycle, left the Company in a robust financial situation and in a good and flexible position to take advantage of any new investment opportunities that may appear.


  • In 2016, the Board having continuously assessed several investment opportunities, decides to enter the PSV market and thus invests 20% in PSVOI & PSVOII, to receive and receives corresponding ownership interests in five (5) mid-size PSVs.
  • By December 2016, the Company establishes a wholly owned Norwegian subsidiary, under the name of WANAX AS, for the purpose of holding the PSV Opportunity investments.
  • In the same month, the Company announces a private placement of up to 423,076,924 new shares and receives binding orders for subscription of 423,076,924 shares at a price of NOK0.65 corresponding to net proceeds of NOK275 million.
  • Net proceeds will be used for oil services investments opportunities directly into companies, securities and /or assets, with the aim to control a larger fleet of assets all purchased at distressed values.


  • On 4th January 2017, in an extraordinary general meeting it was resolved to increase the company's authorised share capital to USD10,220,000 divided into 1,022,000,000 shares each with a par value of USD0.01.
  • Additionally, on 23rd February 2017, in an extraordinary general meeting it was resolved to increase the company’s authorised share capital to USD15,500,000 divided into 1,550,000,000 shares each with a par value of USD0.01.
  • In January 2017 the Company completed additional two private placements raising a total of approximately NOK 300 million through the issuance of a total of 331,408,358 shares each to a par value of USD 0.01 each to a share price of NOK 0.90.
  • On 13th January 2017, the Company announced a subsequent offering of up to 9,500,00 new shares and receives binding orders for subscription of 5,514,718 shares at a price of NOK0.65 corresponding to net proceeds of NOK3.58 million.
  • In January 2017, the Company, through its wholly owned subsidiary Wanax AS, invested 35% in the PSVOIII and received corresponding ownership interests in (2) mid-size PSVs. In June 2017, the investments in PSVOI and PSVOII where merged with PSVOIII resulting into a total ownership of 25%.
  • In the same month, through wholly owned subsidiaries, S.D. Standard Drilling Plc. acquired three (3) ST-216L CD PSV vessels Volstad Viking, Volstad Supplier and Volstad Princess from Volstad Shipping AS. The acquisition of these Vessels, on a wholly owned basis, represents a milestone for the company in achieving its ambition to control a larger fleet of vessels – all purchased at low values.
  • Additionally, on the 25th of January 2017, the company secured 15.60% ownership in New World Supply Ltd., a Cayman Island exempted company, that through its wholly owned subsidiaries, owns six 3300 CD Platform Supply Vessels built in 2013; World Diamond , World Peridot, World Pearl, World Emerald, World Opal and World Sapphire. In April, the company acquired an additional 3,433,143 shares in NWS, increasing its ownership to 26.2%. As a consideration for the newly acquired NWS shares, the company issued 48,064,002 SDSD shares to the sellers, increasing the outstanding number of shares in SDSD to 1,070,0364,002. The investment in the vessels represents another milestone for the Company.
  • On the 3rd of May 2017, the Company’s general meeting of shareholders resolved to perform a reverse split of the Company’s outstanding shares in the ratio of 3:1, reducing the number of shares in the Company to 356,688,001, each with a par value of USD 0.03.
  • In May 2017 S.D. Standard Drilling Plc submitted an application to Oslo Bors whereby the company requested a transfer of listing of the company’s shares from Oslo Axess to Oslo Bors. On the 31st May 2017 the company was listed on Oslo Bors, strengthening its position in the market.
  • On 12 October 2017 the Company announced the acquisition of two large Norwegian built PSVs through its wholly owned subsidiary Wanax AS, the E.R Georgina and E.R. Athina, increasing its fleet to 18 Vessels.
  • On 31 October 2017 in order to partly finance the acquisition of E.R Georgina and E.R. Athina, the Company announced a contemplated equity offering of up to 152,671,756 new shares directed towards all shareholders in the Company as of 30 October 2017, divided on two tranches, at a price of NOK 1.31 per share, each with a par value of USD 0.03. The equity offering was completed in November, raising gross proceeds of NOK 200 million.


6 Maximou Michaelidi Street/Maximos Plaza, Tower 3, Office 401, 3106, Limassol, Cyprus
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