The start of Seadrill's contract for the West Mira (2019 newbuild HE-SS) in Norwegian waters has been moved up. Now the firm start date is August 1, 2019.
Contract running for 9 wells firm, plus 7 optional wells. Day-rate of $300+k/d. Customer is German E&P major Wintershall.
Earlier today a major shipbroker advertised the need for OSV's to support West Mira starting August 1 for a 9 firm, 7 optional contract. Firm + option goes ~ 2 1/2 years until February 2022.
West Mira is currently mobilizing there, and is ~1,000 miles off the coast of Nigeria moving northward at ~ 6 knots with the AHTS Alp Guard support vessel.
Expect soon there will be an announcement as to how much of the day-rate goes to Seadrill (SDRL) and how much to Northern Drilling (owner of the West Mira ... www.northerndrillingltd.com). At that point will be able to estimate the respective P&L and cash flow benefit to SDRL and NODL. T.D.