Another early termination for Shelf Drilling’s jack-up rig

  • Business & Finance

Offshore drilling contractor Shelf Drilling has received another early termination of a drilling contract in less than a week. This time it is for a jack-up rig operating offshore Nigeria. 

Shelf Drilling said on Monday it had received a notification from a customer on early termination of the Trident XIV contract.

The contract end date for the jack-up rig has been changed from February 2021 to July 2020.

To remind, Shelf Drilling in December 2019 secured a one-year extension for the Trident XIV jack-up rig for operations offshore Nigeria. The extension was in direct continuation of the rig’s current contract for workover operations.

Before that, the rig’s extension was agreed in November 2018. According to Bassoe Offshore, the rig has been working for ExxonMobil since February 2018 with a dayrate of $55,000.

Bassoe’s dayrate estimate for the previous extension agreed in December 2019 was $60,000.

This is Shelf Drilling’s second early contract termination in less than a week. Namely, Shelf Drilling last Thursday entered into a mutual agreement with a customer to amend the contract end date for the Shelf Drilling Tenacious from January 2022 to September 2020.

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