Xcite Enters LOI Extension for Rowan Jackup
Xcite has entered into an extension to the binding letter of intent ("LOI") with British American Offshore Limited ("BAOL"), part of Rowan Companies, Inc. for the N-Class Rowan Norway jackup rig.
The LOI has been extended by mutual consent to February 11, 2011 with no amendment to the existing termination fee payable by XER in the event it does not enter into a definitive agreement by this date.
Manages 21 Offshore Rigs
- Rowan Lays Off Another 50 Offshore Workers (Jun 26)
- Rowan to Lay Off 150 Offshore Workers (May 31)
- Rowan Idles Rig, Will Lay Off Up To 110 Workers (Nov 28)
Company: Xcite Energy Resources Limited more info
- Xcite Confirms $35-per-Barrel Costs for Bentley Field (May 29)
- Xcite Signs Rig Provision Agreement for Bentley Field (Nov 17)
- Xcite Signs Services Deal with Baker Hughes for Bentley Field (Oct 20)