Energy company Zenith Energy has agreed to sell the land-based drilling rig ZEN-260 to an oil and gas company in the Philippines for approximately $4.3 million. This is stated in a press release.The purchase price exceeds earlier indicative bids of around $2 million.The company says that the sale strengthens the financial position and is expected to contribute to the development of Zenith's Italian solar energy portfolio. Import of the rig is expected to take place in July.ZEN-260 was originally acquired by Zenith in September 2018 for approximately €2.25 million.