Dolphin Drilling to chase $42.6m payment as its rig moves on
Aberdeen’s Dolphin Drilling has cancelled a contract with General Hydrocarbons Limited as it expects to lose out on $42.6 million.
Aberdeen’s Dolphin Drilling has cancelled a contract with General Hydrocarbons Limited as it expects to lose out on $42.6 million.
Dolphin Drilling (OSLO: DDRIL) has been awarded a $154 million drilling contract from Oil India for the Blackford Dolphin semisubmersible drilling rig.
The Norwegian drilling company flagged problems in Nigeria during its third quarter results, filed on November 28.
Dolphin Drilling reported surging revenues in the second quarter while it bids for more work for stacked rigs and awaits the handover of two units acquired from Transocean.
Once the Blackford Dolphin completes its work for General Hydrocarbons, it will stay in Nigeria for work with Peak Petroleum, at a higher day rate.
Dolphin Drilling said the minimum term contract carried an effective dayrate of $325,000 including mobilisation.
The Blackford Dolphin arrived in Las Palmas on November 24, 2022, following a delayed departure from Mexico and reduced transit speed.
Aberdeen-headquartered Dolphin Drilling has bagged a yearlong contract worth $96 million (£84m) for work offshore Africa.
Dolphin Drilling has won an $83m (£62m) contract with Pemex in Mexico.
Dolphin Drilling has won work for the upcoming appraisal campaign for i3 Energy’s Serenity discovery in the North Sea, which includes a revenue-sharing agreement.