Press Esc to close

WorldOil

World Oil News Center



Seadrill announces settlement agreement and contract extension for West Aquarius

HAMILTON, Bermuda -- Seadrill Partners, a subsidiary of Seadrill Limited, as part of a settlement agreement, has agreed to non-payment for 37 days during the recent mobilization period as a result of the time required for the ultra-deepwater harsh environment semi-submersible West Aquarius to complete modifications and repairs in order to meet the regulatory requirements for operations in Canadian waters and for the operator to receive authorization from the Canadian authorities to commence operation. This loss will negatively impact third quarter results.

In conjunction, it is negotiating an 18-month contract extension thereby extending the operations for the rig off the east coast of Canada until April 2017.  The new contract, which will be subject to required approvals by the joint interest owners, is expected to be executed by November 30, 2013.

The total revenue potential for the extension is estimated to be approximately $337 million.

10/11/2013

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS

Upcoming Events