Petrojack is a Norwegian

Norway

Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

 offshore drilling rig

Drilling rig

A drilling rig is a machine which creates holes or shafts in the ground. Drilling rigs can be massive structures housing equipment used to drill water wells, oil wells, or natural gas extraction wells, or they can be small enough to be moved manually by one person...

 operator. The company has two jackup rig

Jackup rig

A jack-up rig is a type of mobile platform that is able to stand still on the sea floor, resting on a number of supporting legs. The most popular designs use 3 independent legs, although some jackups have 4 legs or more...

s under order from Jurong Shipyard in Singapore

Singapore

Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...

, while it sold its two former rigs Petrojack I and Petrojack III to Maersk Drilling. The company was founded in 2004 and listed on the Oslo Stock Exchange

Oslo Stock Exchange

The Oslo Stock Exchange serves as the main market for trading in the shares of Norwegian companies. It opens at 9:00am and closes 5:30pm local time...

 the next year. The largest shareholders are Petrolia Drilling (40%), Awilco Offshore

Awilco Offshore

Awilco Offshore was a Norwegian drilling rig owner. In 2008 the company operated five jackup rigs and two semi-submersible accommodation rigs, with several others on order. Awilco was founded in 2005, headquartered in Oslo and was listed on the Oslo Stock Exchange. Operation of its rigs was done by...

 (18%) and Sinvest

Sinvest

Sinvest is a Norwegian oil drilling investment company, with headquarters in Kristiansand. The company is a long-term financial and strategic investor in oil resources and offshore companies and has been listed on the Oslo Stock Exchange since 2001....

(18%).

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.