UK: Premier Hires WilPhoenix Rig

Last month Awilco Drilling PLC and Premier Oil signed letter of award (LoA) for the provision of WilPhoenix drilling rig. The contract was confirmed yesterday.

Premier oil, an independent British UK oil company focused on exploration, has hired the rig for the drilling of two firm wells and up to two option wells.  The contract value for the firm period, which will last approximately 60 days, is estimated to be about USD 17.4 million.

While the LoA said that contract would commence in the fourth quarter 2012, the start date of the contract has been moved to the late third quarter 2012.

WilPhoenix is one of Awilco Drilling’s two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.

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Offshore Energy Today Staff, April 6, 2012; Image: Awilco Drilling