|Juni||Change of name: The general meeting June 16 2016 adopted the resolution to change the name from Global Rig Company AS to NorAm Drilling Company AS, to underpin NorAm Drilling as the leading name for the group.|
|2015||November||The order for 3 additional rigs was cancelled due to low oil price and weak rig market.|
|In November and December 2014 three Global Ideal 1800 rigs with walking system were delivered. All the three rigs started on 18 months contract from day one.|
|November||Extraordinary General Meeting of 5 November decided to transform the Company from a public limited liability company (ASA) into a private limited liability company (AS). The shares in the company are freely transferable. New board member elected.|
|October||30 October CEO of Global Rig Company ASA and NorAm Drilling Company, H.E.”Mac”McInnis dies. CFO Dale Wilhelm and Operation Manager Thomas Taylor will share Mac’s duties and responsibilities in management of the Company.
Extraordinary General Meeting of 6 October decides a total equity raise of MUSD 20, which will enable the Group along with some additional funding to complete the acquisition of 3 additional rigs to be delivered within Mid-2015.
|September||Rig 30 delivered and entered an 18 months contract. It’s a Global Ideal 1800 rig which replaces Rig 24 that was lost in a well control incident in March,|
|June||A new bond of MUSD 120 was issued to repay the remainder (MUSD 44) of the previous bond loan and to finance the acquisition of 3 new Global Ideal 1800 HP rigs with Walking System.|
|March||17 March Rig 24, a Global Ideal 1800 HP rig, was involved in a well control incident that resulted in a fire on the Rig. No personnel were hurt. The rig was declared a total constructive loss, and the replacement will be fully covered by the insurance. (Replacement rig delivered in September 2014)|
|2011||October||Bond issue (USD 60 mill) listed at Oslo Stock Exchange.|
|June – August||Delivery of the new Global Ideal 1800 HP Rigs. All three immediately mobilized on contracts, which mean the Groups six rigs are all on contract with major E & P Company.|
|June||Converting of the remaining (USD 18, 8 mill) of the shareholder loan for shares.
Bond issue of USD 60 mill.
|April||Sale of the 3 Super Singles rigs for USD 21 mill total. USD 19 of preceeds used to repay shareholder loan.
Signed purchase contracts for 3 new Global Ideal 1800 HP rigs.
|2010||October||Sharholder loan increased to USD 31 mill and extended 6 months.|
|September||Delivery of the third SuperTech Rig, Rig 23), mobilized on a 12 month contract.|
|August||Electrical rig sold for USD 7 mill.|
|July||New short term shareholder loan of USD 6 mill granted.
Delivery of the second SuperTech Rig, (Rig 22), mobilized on a 12 month contract.
|May||Delivery of the first SuperTech Rig (Rig 21), mobilized immediately on 12 months contract.|
|January||Delivery of Rig #4 (electrical rig). Marketed for sale.|
|2009||October||USD 25 mill shareholder loan extended to Oct 2010.|
|2008||October||USD 25 mill one year shareholder loan.|
|August||Settlement of bonds. Group 100% equity financed.|
|July||NOK 331.2 mill (USD 64 mill) gross equity funding through private placement.
4 new rigs ordered: 1 electric 1000 HP rig, 3 SuperTech 1500 HP.
|February||Rig #3 generating income.|
|January||Rig #2 generating income.|
|2007||December||Rig #2 and #3 (Super Singles) delivered.|
|August||Rig #1 (Super Single) delivered, in US operation by Sep 2007.|
|July||NOK 120 mill gross funding in bonds (USD 20 mill), 1 680 000 warrants issued.|
|June||Name of company changed to Global Rig Company ASA. Ticker changed to GRIC.|
|May||NOK 115 mill (USD 19 mill) gross equity funding through share issue, purchase of 3 SuperSingle® rigs. Listed on NOTC as ticker TERI.|
|February||Terra Rig Company ASA founded. Head office: Bergen, Norway.|