Atwood Orca, which has been working for Mubadala off Thailand since April 2013, will now be under contract to the operator through late October 2016.
The new dayrate, effective 1 November this year, is $85,000. Its previous rate was $165,000 on a contract originally scheduled to end next February.
Drillers have been under intense pressure as work has dried up following the plunge in oil prices last year, and most companies are scrambling to keep their rigs active at a time when more and more units are falling idle or getting stacked.
Houston-based
