Atwood Oceanics Secures More Work For Jackup Drilling Rig

Published at 06:35PM - 28/10/15

Offshore drilling contractors, Atwood Oceanics, have confirmed that they have secured further work for one of their jackup drilling rigs.

The Houston based firm made the announcement, Wednesday (28th Oct), confirming that the Atwood Orca had won an extension to its current contract with Abu Dhabi based Mubadala Petroleum.

The contract will see the offshore drilling rig stay within Thailand’s waters, as it continues to drill exploration wells for Mubadala. The Atwood Orca support the firms production well campaign, throughout its successful on stream Thai fields including, the Jasmine, Manora and Nong Yao.

The original contract commenced in April 2013 and was due to expire in January 2016. The new 9 month extension will see the contract continue until October 2016.

As part of the new contract, the drilling rig’s day rate has been renegotiated down, from its current US$165,000 to US$85,000.  The new day rate will commence on the 1st November and run until the end of the contract in October 2016.

Last updated on 09:10AM - 29/10/15