Shelf Drilling bags three-year extension for jack-up rig

Offshore drilling contractor Shelf Drilling has secured a three-year contract extension for the High Island VII jack-up rig.

For illustration: one of Shelf Drilling’s jack-up rigs; Source: Shelf Drilling

The rig owner said on Wednesday that the extension is in direct continuation of the rig’s current contract for drilling operations in the Arabian Gulf. The contract includes a two-year option period.

Shelf Drilling’s latest fleet status report from August 2019 shows that the High Island VII is currently under contract with ADNOC Drilling. The rig’s previous, six-month extension with ADNOC is set to expire in December 2019. According to an estimate by Bassoe, the rig’s current dayrate is $60,000.

The High Island VII jack-up rig is of a Marathon LeTourneau 82-SD-C design built in 1982. The rig’s last upgrade was in 2016.

Earlier this week, Shelf Drilling has also been awarded contract extensions for four of its jack-up drilling rigs. All four rigs are under contracts with Saudi Aramco in the UAE.