One-year extension, higher dayrate for Seadrill’s drillship

  • Business & Finance

Offshore drilling company Seadrill has won a contract extension for one of its drillships, at a higher dayrate.

Namely, the  U.S. oil company LLOG has decided to extend the contract for Seadrill’s West Neptune drillship for one more year. The drillship is operating in the U.S. Gulf of Mexico.

Seadrill said that the contract value is expected to be approximately $74 million with the start of the contract in December 2019, in direct continuation of the existing contract with LLOG.

This means that the dayrate for the rig will be higher – around $202,000, compared to the rig’s current dayrate of $155,000.

The West Neptune is a sixth-generation ultra-deepwater drillship delivered by Samsung Heavy Industries in 2014. It has worked for LLOG ever since the delivery in the U.S. Gulf of Mexico.

Worth reminding, the rig’s dayrate for the first three years with LLOG (2014 – 2017) was $573,000.

Offshore Energy Today Staff


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