Dolphin Drilling breaks off rig deal due to contract breach

Offshore drilling contractor Dolphin Drilling has pulled the plug on its contract for a semi-submersible rig with Peak Petroleum Industries Nigeria Limited (Peak Petroleum) for operations off Nigeria.

The offshore drilling player inked a new contract for the Blackford Dolphin semi-submersible rig with Peak Petroleum Industries Nigeria Limited in March 2023 for operations off Nigeria with an effective day rate associated with the minimum firm contract period of $325,000, including the mobilization fee.

Dolphin Drilling has terminated this deal due to – what it deems to be – a continued breach of the contract. The 1974-built Blackford Dolphin is a semi-submersible drilling rig of an Enhanced Aker H-3 design and can accommodate 120 people. This rig has been operating for General Hydrocarbons Limited (GHL) throughout the quarter and achieved 98.3% operational performance.

The company explains that the contract backlog reported in the third quarter of 2023 report was adjusted for the contract termination and will remain at the same level as reported.

Recently, Dolphin Drilling secured a long-term contract for the Borgland Dolphin semi-submersible rig in the UK with EnQuest.