Statoil cancels contract for North Atlantic Drilling’s West Epsilon jackup
HAMILTON, Bermuda -- North Atlantic Drilling Limited has received a notice of cancellation from Statoil related to the contract for the West Epsilon jackup.
The rig was originally contracted for drilling services in Norway until the end of December, and the early cancellation will be effective upon conclusion of the rig’s current activities in mid-October.
In accordance with the contract, North Atlantic will receive a lump-sum payment of approximately $11 million. The West Epsilon is currently being marketed for new employment.
