Noble scores rig deal extension, but at a discount

  • Exploration & Production

Noble Corporation, a UK-based offshore driller has managed to extend a contract for one of its drilling rigs in January.

In its fleet status report, Noble said Maersk Oil has decided to extend a contract for the Noble Sam Turner, a high-specification, harsh environment jack-up.

However, the extension comes at a significant discount. The contract dayrate had first been reduced from $218.000 to $197.000, for a period between early December 2015 – late June 2016.

But the new extension, which should keep the rig with Maersk Oil in Denmark from late June 2016 till late August 2018 has been set at a dayrate of 96.500.

Apart from the reduced price deal with Maersk Oil, Noble has been in talks over dayrates adjustments with its other clients too, such as Saudi Aramco and Freeport-McMoRan, the two companies leasing six Noble’s rigs in total.

Furthermore, the contract with Shell for the Noble Jim Day semi-submersible expired in January, which Noble had anticipated, and the rig is now being marketed for a new job.

Offshore Energy Today Staff

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