Paragon’s drillship gets early release from Petrobras

  • Exploration & Production

Paragon Offshore, an offshore drilling contractor, has informed that Brazil’s state-owned oil giant Petrobras has given an early release to its drillship DPDS2.

According to Paragon’s latest fleet status report,Petrobras released the drillship in September 2015 although it was originally contracted through early March 2017. Prior to release, the drillship was operating under a dayrate of $300,000.

To remind, Petrobras indicated it would release the drillship in September 2015 as well as contest approximately 380 days of the drilling contract backlog for Paragon’s other drillship, Paragon DPDS3. However, Paragon provided no update on the second drillship’s status.

“We continue to discuss the matter with Petrobras,” Paragon emphasize regarding the status of the DPDS2 drillship.

In addition, Paragon said it was preparing to mobilize two of its jack-up drilling rigs to the U.S. Gulf of Mexico for stacking.

The rigs, the M841 and M824, were built in 1975 and 1982, respectively.

Offshore Energy Today Staff

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