Atwood Oceanics has announced two contract activities in the Gulf of Mexico (GoM) and offshore Brazil.
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The Atwood Advantage. From Atwood Oceanics. |
An Atwood Oceanics subsidiary has agreed to a contract extension and rate adjustment with Noble Energy for the ultra deepwater rig Atwood Advantage. Effective 9 November 2015, the agreement will extend the contract for the purposes of a plugging and abandoning a four-well program in the GoM that has an estimated duration of 120 days during the contract term and is anticipated to occur in 2016. This extension adjusts the operating day rate to approximately US$240,000/d only during the four plug and abandon wells and makes the new contract expiry date to approximately August 2017.
In addition an Atwood Oceanics subsidiary has received a letter confirming that it has been chosen to enter exclusive negotiations with an undisclosed operator to conclude agreement on a drilling program offshore Brazil commencing in the Q3 2017. The letter specifies a number of contractual items that have been agreed by the parties, including the commercial rates, well count, minimum term length, rig acceptance criteria, and the use of either the Atwood Admiral or Atwood Archer to drill the program. The two ultra deepwater drillships are currently under construction at the Daewoo Shipbuilding and Marine Engineering Co. yard in South Korea.
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