Northern Offshore, Ltd. reported that its subsidiary, Northern Offshore U.K. Limited, was awarded a contract with ADTI for the jackup Energy Endeavour (300' ILC). The contract, for operations in the UK Sector of the North Sea, is for a one-well program with an expected duration of sixty days, and is scheduled to commence mid June 2013. The estimated contract value for the expected term is approximately $9.3 million.
"We look forward to working with ADTI and achieving a safe and successful drilling program. This contract for the Energy Endeavour represents our expected increase in dayrates, marks our return to the UK sector of the North Sea, and positions the unit in a strong market with additional future opportunity," Northern Offshore's President and CEO Gary W. Casswell said.
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