Seadrill 3 year extension on JackUp contract announced today | SDRL Message Board Posts

Seadrill Limited

  SDRL website

SDRL   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  36985 of 36991  at  3/11/2019 2:38:04 PM  by

TonsbergDescendant


Seadrill 3 year extension on JackUp contract announced today

 
  Extends existing contract by 3 years, from Jun'19 expiration with Saudi Aramco to Jun'22.
New day-rate of $73k/d .    Saudi Aramco employs more JUps than anyone in the world, by far, as reported by Maersk Drilling. Thus $73k/d has to be seen as the current day-rate for standard duty JUps in the Middle East.
 
  AOD I has been with Saudi Aramco since it was built in 2013. Back in the good old days (2013) when oil was over $100/bbl its initial day-rate was $180k/d.    T.D.
 
IMO, Transocean got screwed by Ocean Rig's bid offer made in 2-3Q18. Now Transocean stuck with two contracts that were set by a low term bid, and then a followup much lower re-bid, by a company (ORIG) that was desperate from any sort of drilling contract or M&A lifeline. Transocean stated, in it's summer conf call Q&A, to the effect that it was aware that ORIG had submitted multi-year drillship bids to Petrobras, but had no idea, nor any involvement in the ORIG's bid because of legal bars from involvement since there was no M&A deal at the time of the bidding.  


     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 3     Views: 88
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board


About Us    Contact Us    Follow Us on Twitter    Members Directory    Help Center    Advertise
Not a member yet? What are you waiting for? Create Account
Want to contribute? Support InvestorVillage by donating
2003-2018 Investorvillage.com. All rights reserved. User Agreement
   
Financial Market Data provided by
.


Loading...