Shelf Drilling is an international shallow-water offshore drilling contractor headquartered in Dubai. Founded in November 2012 through the acquisition of 38 jackup rigs and one swamp barge from Transocean for approximately $1.05 billion, the company operates jackup rigs primarily in the Middle East, Southeast Asia, India, West Africa, the Mediterranean, and the North Sea, providing drilling, completion, maintenance, and decommissioning services for oil and natural gas wells. Shelf Drilling listed on Oslo Bors in June 2018 (ticker SHLF) and was acquired by ADES International Holding in a NOK 18.50-per-share cash merger completed on November 25, 2025, with the shares subsequently delisted from Euronext Oslo Bors on December 3, 2025. The combined ADES/Shelf Drilling entity operates a fleet of more than 80 offshore jackups and 40 onshore rigs across 19 countries.
Shelf Drilling is publicly traded
IPO'd on June 25, 2018
This company is no longer available on our private secondary market. Shares can be traded publicly under SHLF.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2012
Employees
2,000–2,500
Total Funding
$225M
1 rounds
Total raised $225M across 1 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 05-10-2026
Latest Round
Type
IPO
Date
June 25, 2018
Amount
$225M
Valuation
—
Greg O'Brien
Chief Executive Officer
David Mullen
Executive Chairman
Douglas Stewart
Chief Financial Officer
Aaftaab Kharbanda
Executive Vice President and Chief Operating Officer
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Borr Drilling
Bermuda-based jackup rig contractor with a modern shallow-water fleet operating globally; direct competitor in premium jackup segment.
ADES International Holding
Saudi-listed offshore and onshore drilling contractor that acquired Shelf Drilling in November 2025; pre-merger competitor in MENA jackup market.
Valaris
London-headquartered offshore driller with a global fleet of jackups and floaters; competes in shallow-water jackup market.
Noble Corporation
Offshore drilling contractor operating a fleet of jackups and floaters; competes in international shallow-water markets.
Transocean
Offshore drilling contractor and former parent of Shelf Drilling's rig fleet; now focused on high-specification deepwater and ultra-deepwater rigs.
ADNOC Drilling
Abu Dhabi-listed integrated drilling services company operating onshore, offshore jackup, and island rigs primarily in the UAE.
Yes, Shelf Drilling is publicly traded under the ticker symbol SHLF on the Oslo Bors. The company went public in June 25, 2018.
Shelf Drilling trades under the ticker symbol SHLF on the Oslo Bors. It began trading in June 25, 2018.
Shelf Drilling (SHLF on the Oslo Bors) shares can be purchased through any standard brokerage account — including Fidelity, Charles Schwab, TD Ameritrade, and online platforms like Robinhood or E*TRADE. Search for the ticker SHLF to place an order.
Shelf Drilling went public in June 25, 2018 via ipo. Shelf Drilling listed on Oslo Bors on June 25, 2018 under ticker SHLF, raising approximately $225 million in its IPO. On August 5, 2025, ADES International Holding announced a recommended cash offer at NOK 14 per share, later revised on September 16, 2025 to NOK 18.50 per share (approximately $380 million equity value; $1.7 billion enterprise value including $1.2 billion of notes). Shareholders approved the merger on October 6, 2025 with 99.6% in favor. The merger was completed on November 25, 2025, and Shelf Drilling shares were delisted from Euronext Oslo Bors effective December 3, 2025.
Shelf Drilling raised $225M across 1 disclosed funding rounds prior to its public listing.
Shelf Drilling is headquartered in Dubai, United Arab Emirates.
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