Northern Offshore secures jack-up deal

Destined for UK: Energy Endeavour

NORTHERN OFFSHORE

related stories

Steve Marshall

 20 February 2013 14:04 GMT

Oslo-listed rig contractor Northern Offshore, owned by maritime magnate John Fredriksen, has secured alternative work for its jack-up Energy Endeavour after an earlier deal for Danish waters fell through.

The unit has now been chartered by ADTI to drill a single well in the UK North Sea under a 60-day contract worth around $9.3 million - yielding a dayrate of around $155,000 - that is due to start in mid-June.

An earlier three-year deal with Maersk Oil & Gas that carried a lower dayrate of $100,000 was scrapped by the Danish player as the rig failed to meet new requirements for operations off Denmark.

Northern Offshore chief executive Gary Casswell said the new contract with ADTI met its expectation for achieving a…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index