Mubadala Petroleum Extends Atwood Orca Contract at Lower Day Rate

Atwood Oceanics, Inc. announced Wednesday that one of its subsidiaries had agreed to a nine-month extension and rate adjustment to its existing contract with Mubadala Petroleum (SE Asia) Limited for the jackup Atwood Orca (400' ILC), beginning Nov. 1.

The jackup, which commenced its drilling services contract with Mubadala Petroleum offshore Thailand on April 29, 2013, will continue its current remain assignment until the new contract end date of Oct. 28, 2016.

Atwood Oceanics added that the agreement adjusts the operating day rate to approximately $85,000 from Nov. 1, 2015 until the new contract end date. The day rate has fallen by almost half in the extension, compared to the original agreement when it was pegged at $165,000, according to data from Rigzone's RigLogix database. Atwood Orca is currently operating in the Gulf of Thailand.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Zion Granted Approval to Drill Well On... (Dec 2)
 -  Production Drilling Begins at Mariner ... (Dec 2)
 -  Subsea 7 Secures Services Contract wit... (Dec 2)
 -  Eni: Oil Worker Dies Following Congo P... (Dec 2)
 -  FAR Refutes Claims that it cannot Farm... (Dec 1)


Most Popular Articles

From the Career Center
Jobs that may interest you
Expeditor
Expertise: Driller|Logistics Management|Materials Management
Location: Anchorage, AK
 
Rig Operator
Expertise: Rig Manager
Location: Odessa, TX
 
United States El Reno: Field Engineer - Cased Hole
Expertise: Casing|Mechanic
Location: El Reno, OK
 
search for more jobs

Brent Crude Oil : $54.46/BBL 0.96%
Light Crude Oil : $51.68/BBL 1.21%
Natural Gas : $3.44/MMBtu 1.99%
Updated in last 24 hours