Another rig deal slips through Awilco’s fingers

  • Business & Finance

Offshore driller Awilco Drilling has lost an opportunity for a potential contract for its only active rig as an unnamed operator no longer plans to run the drilling campaign for which the rig was hired. 

As a reminder, Awilco in late January 2018 signed a letter of intent with an undisclosed operator for the provision of the WilPhoenix drilling rig for a one-well program with an estimated duration of 115 days.

The contract was supposed to start in direct continuation with the rig’s contract with Apache in the North Sea, set to end in April.

However, Awilco Drilling said on Thursday it has been advised that the operator will no longer proceed with this program of work.

The WilPhoenix is therefore available from around May 1, 2018, prior to its later commitment from around September 1, 2018, Awilco stated.

For Awilco, this is the second potential contract loss in one day. As reported by Offshore Energy Today earlier on Thursday, Awilco’s letter of award from Alpha Petroleum Resources dating from September 2017 for the WilPhoenix rig did not result in an agreed contract for the rig.

However, Awilco Drilling then signed a letter of intent with another, undisclosed operator for the provision of WilPhoenix. The program is expected to start around September 1, 2018, with an estimated duration of 450 days for an undisclosed dayrate.

WilPhoenix is one of Awilco Drilling’s two enhanced pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft. The rig is currently under contract with Apache. Awilco’s other rig, the WilHunter, has been cold stacked in Invergordon for a while now with no near-term employment prospects.

Offshore Energy Today Staff

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