Aban

This would accelerate the deleveraging story for Aban, which has been reeling under a huge debt burden for a couple of years, and a setback for the country's largest private sector offshore drilling services firm.

Aban Emerging From the Depths 2011

Aban was special and he was fragile, but he was still their child.

Between Expectations Md Meghan Maclean Weir 2011

Shares of Aban closed about 1.7% higher on Tuesday.

Aban Emerging From the Depths 2011

It's possible, however, that the expected uptrend in oil, and Aban's steering out of troubled waters could result in an upside for the battered stock.

Aban Emerging From the Depths 2011

Aban's settlement was welcomed by the Street, as it came earlier than expected.

Aban Emerging From the Depths 2011

For example, Oil and Natural Gas Corp. Ltd has reportedly floated tenders for Aban's rigs, which come off contract over the next couple of months.

Aban Emerging From the Depths 2011

Besides its initial investment, Aban suffered the cost of keeping the rig idle through the period of litigation.

Aban Emerging From the Depths 2011

Aban Offshore ended up 5.1% at 706.90 rupees while Great Offshore rose 3.7% to 289.50 rupees.

India Shares End Lower Raghavendra Upadhyaya 2011

Aban now carries 18 vessels, all of which are operational with cash flows to repay debt.

Aban Emerging From the Depths 2011

It seems to be the end of a long-standing nightmare for Aban Offshore Ltd as it finally exited its equity interest in joint venture -- Venture Drilling AS -- which has been in murky waters since mid-2008, when the only ship used for drilling called Deep Venture that it chartered from a Russian enterprise ran into litigation.

Aban Emerging From the Depths 2011