Industry Petroleum Revenue NOK 810 million (2006) Net income NOK 566 million (2006) Founder Berge G. Larsen Key person Berge G. Larsen | Operating income Founded 2004 | |
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Key people Lars Moldestad (CEO)Berge Gerdt Larsen (Chairman) Type of business Public company (OSE: JACK) | ||
Petrojack was a Norwegian offshore drilling rig operator. The company had two jackup rigs under order from Jurong Shipyard in Singapore, while it sold its two former rigs Petrojack I and Petrojack III to Maersk Drilling. The company was founded in 2004 and was listed on the Oslo Stock Exchange the next year. The largest shareholders were Petrolia Drilling (40%), Awilco Offshore (18%) and Sinvest (18%).
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Stock Value
In week 47 2009, Petrojack's stock value went up from 0,90 NOK per share to a maximum of 7,12 NOK per share. On the first day of this extreme rise, at 09:49, the stock was suspended because the share price rose 64% without any statement from the company itself. The stock was reopened 11 minutes later at 10:00.
Bankruptcy
Petrojack reportedly went bankrupt toward the end of 2010.