Atwood Oceanics: Rig contract extension secured, but at slashed dayrate

Offshore drilling contractor Atwood Oceanics has secured a contract extension for one of its drilling rigs, however, at a reduced dayrate.

The jack-up rig, Atwood Orca will now stay with Mubadala Petroleum until October 28, 2016. The original contract for the rig being used for drilling offshore Thailand was to expire in February 2016.

Under the new agreement, Atwood Oceanics has agreed to reduce the rig’s dayrate to $85.000, starting November 1, 2015. The previous dayrate was $

Mubadala Petroleum has been using the Atwood Orca since its delivery from a Shipyard in Singapore in April 2013.

Offshore Energy Today Staff