Offshore drilling coverage is far from a weekly occurrence in this newsletter, but Borr Drilling Ltd.’s July 29 acquisition of five jack-up rigs from Fontis Finance Ltd. is a useful reminder that the same financing tools we track in shipping — non-recourse seller credit, joint-venture structures, opportunistic timing — travel just fine into adjacent asset-heavy sectors. Companies: Borr Drilling Ltd., Fontis Finance Ltd., BC Ventures Ltd., Proyectos Globales de Energía y Servicios, Friede & Goldman, LeTourneau, Valaris Ltd., Transocean Ltd.), Noble Corp., ADES Holding Co. Ltd., Paratus Energy Services, SeaMex, Seadrill, Archer, Seagems, Petrobras, Pemex

Pyxis Tankers recently announced plans to issue a $20 million convertible preferred offering, marking its return to the preferred securities market for the first time since redeeming its 7.5% Series A preferred shares in 2024. Companies: Pyxis Tankers, ThinkEquity, Tsakos Energy Navigation, Costamare

As a well-deserved holiday season comes to a close, Oslo’s ship and offshore finance community is rested up and preparing for the bevy of deals that will define the coming months. Companies: Tidewater, Bahri, OceanPact, Pioneer, Constellation, Clarksons Securities, Goldman Sachs, J.P. Morgan, Itau BBA, Morgan Stanley, Arctic Securities, DNB Carnegie, Fearnley Securities, Pareto Securities, McDermott, Bruton Limited