Subsequent Events

9 Months Ended

Sep. 30, 2014

Subsequent Events

Subsequent Events

Note 15 Subsequent Events

On October 24, 2014, our Board of Directors declared a cash dividend of $0.06 per share to the holders of record of our common shares as of December 10, 2014 to be paid on December 31, 2014.

In October 2014, we purchased the outstanding shares of 2TD Drilling AS (“2TD”), a drilling technology company based out of Norway. 2TD is in the process of developing a rotary steerable system for directional drilling which will be included as part of our Rig Services segment. Under the terms of the transaction, we paid an initial amount of $40.0 million for the purchase of the shares. We may also be required to make future payments of up to an additional $40.0 million, contingent on the achievement of various milestone objectives.