Husky Scraps Seadrill Drilling Contract

UK-based offshore drilling contractor Seadrill Limited announced Tuesday that Husky Oil Operations Limited has cancelled a drilling contract between the two companies for the West Mira (UDW semisub).

Seadrill revealed in its second quarter results for 2015, released August 27, that it had agreed with Husky to reduce the day-rate of the West Mira due to the late delivery of the drilling facility. The construction contract for the facility was subsequently cancelled by Seadrill due to the Shipyard's inability to deliver the unit within the timeframe required under the contract.

In the fourth quarter of 2012 Seadrill was awarded a five year contract for the West Mira, by Husky, for operations in Canada and Greenland. The total estimated base revenue potential was thought to be approximately $1 billion for the deal, according to Seadrill. The two companies remain in discussion to find an alternative solution to meet Husky’s drilling requirements.

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