LLOG Lines Up UDW Drillship for GOM Drilling

Seadrill Ltd. has secured a contract from LLOG Bluewater Holdings, LLC for the West Neptune (UDW drillship) to be deployed offshore Gulf of Mexico. The contract is  for three years plus an option for a one-year extension at conjointly agreed rates.

Seadrill is expected to receive about $662 million in revenue for the primary contract.

"We are delighted to have signed our first contract with LLOG, a leading independent operator in the Gulf of Mexico," said Fredrik Halvorsen, CEO and president of Seadrill Management, in a released statement. "This award complements our expanding deepwater operations in the area with Seadrill's fleet growing to six ultra-deepwater units within the US and Mexican Gulf of Mexico over the next 18 months."

West Neptune is expected for delivery in early 2014 and will be outfitted to work in depths up to 10,000 feet of water and is capable of working in water depths up to 12,000 feet and drilling depths up to 37,000 feet of water. The drillship will work on the Bluto, Marmalard and SOB 2 fields, which are tied-back to the Delta House FPU that is located on Mississippi Canyon Block 254.

"The West Neptune will be the first dual BOP rig in the Gulf of Mexico for LLOG," said Scott Gutterman, president and CEO of LLOG, in a press release. "LLOG will initially utilize the rig to perform completions of our Delta House wells.  Having two BOP's will allow LLOG to complete our wells efficiently saving up to 12 days per completion."

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