Maersk Convincer will be sold to ADES for US$43M (source: Maersk Drilling)
Week 17, 2022 saw plenty of activity in the offshore drilling space; Westwood Global Energy noted a rise in activity in the Middle East and the US Gulf of Mexico
Maersk Drilling will sell Maersk Convincer to ADES International for around US$43M in an all cash transaction. The Middle-East and North African operator will take possession of the rig following the completion of its current drilling programme with Brunei Shell Petroleum, likely in August but no later than 15 September 2022.
2008-built Maersk Convincer is a Baker Pacific Class 375 cantilever jack-up rig that has been operating offshore Brunei Darussalam since 2017.
Saudi Aramco extended UAE contractor Shelf Drilling’s High Island V jack-up rig contract for three more years. The unit was previously under contract from April 2019 until March 2022.
Offshore drilling contractor Seadrill announced new contract awards totalling US$105M for the West Neptune and Sevan Louisiana drilling units in the US Gulf. West Neptune has secured a four-well extension worth US$71M with two one-well options with LLOG Exploration Offshore, with a firm term of 200 days which will keep the unit employed into August 2023.
Note: Going forward, Westwood Global Energy will be changing its weekly utilisation calculation to include non-working rigs that have future /commitments in place. The company said this will result in a higher utilisation number but is a more accurate representation of rig availability. Dayrate fixtures for these contracts are included in the calculation of leading edge dayrates.
Sevan Louisiana will commence its three-well extension with Talos Production. The extension has a minimum duration of 105 days and is an extension to the existing contract with Talos, which is set to commence in August 2022. Total contract value for the three-well extension is approximately US$34M.
In addition, the company’s joint venture partner Sonadrill clinched a 10-well contract worth US$161M with an affiliate of Angola’s Sonangol. Drillship West Gemini will begin work in Q4 2022 for a firm-term of 18 months in direct continuation of the vessel’s existing contract.
Seadrill chief executive Simon Johnson noted, “It’s encouraging to see so much activity in the US Gulf of Mexico right now. We are proud of the safe and efficient operations we provide for our clients and are grateful for the opportunity to continue delivering for both LLOG and Talos into next year.”
The Gulf of Mexico will also see the arrival of Transocean’s ultra-deepwater drillship Deepwater Inspiration after an unnamed customer exercised a one-well option at US$300,000 per day. Transocean published its latest fleet status report this week, revealing new contracts and extensions. The semi-submersible rig Development Driller III, awarded a one-well contract in Colombia for US$331,000 per day, and drilling rig Transocean Spitsbergen, a one-well option in Norway at US$305,000 per day, will join Deepwater Inspiration. These deals add US$87M to Transocean’s total backlog which sits a US$6.1Bn.
Oil and gas majors Eni and Chevron announced new exploration campaigns for offshore Mexico, with Eni advancing a four-well campaign in deepwater Block 24 that was derailed by the pandemic. Chevron will commence exploration in Block 22 later this year.
Elsewhere, shipmanagement group Harren & Partner added another jackup to its fleet, acquiring the jackup vessel Thor from offshore installation services firm DEME.
