Maersk Drilling Profit Rises on Higher Operational Uptime

Denmark’s offshore drilling contractor Maersk Drilling made a profit of USD 146m in the first quarter of 2013, an increase from USD 123m earned in the same period of 2012.

The increase in profit was mainly due to general higher operational uptime in Q1 2013.

All of Maersk Drilling’s 16 jack-ups and floaters, the 10 drilling barges in Venezuela and the managed semi-submersible have been on contract in Q1 2013.

Currently Maersk Drilling has three jack-up rigs and four drillships under construction. Contracts are already secured with customers for the three jack-ups and the first two drillships. Maersk Drilling is in discussions with oil companies for the employment of the two remaining newbuild drillships.

As for the 2013 outlook, the company expects a result above the 2012 result (USD 347m).