The payment includes a $5 million deposit which was previously given to Ensco.
In addition, Stone agreed to make another $5 million deposit that can be applied as a credit toward future drilling services in the US Gulf of Mexico by 31 March 2017. If Stone does not use the credit by then, the funds will be forfeited.
Ensco also retains the exclusive right to perform offshore drilling services for Stone "within a predefined range of operating day rates" in the US Gulf through 2019.
The
