AWDR Awilco Drilling

Awilco Drilling PLC: Contract signed with Petrofac

Awilco Drilling PLC: Contract signed with Petrofac

With reference to our press release of 30 January 2020, Awilco Drilling PLC is pleased to confirm that a contract has been signed with Petrofac Facilities Management Limited (Petrofac) for the provision of WilPhoenix for a three well Plug & Abandonment program on Rubie and Renee. The program has an estimated duration of 100 days and will commence in early May 2020. 

WilPhoenix is one of Awilco Drilling’s two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft. Awilco Drilling also has two new build rigs on order of Moss CS60 ECO MW design equipped for drilling in harsh environments, and independent options for additional two rigs of the same design.

Aberdeen, 9 March 2020





For further information please contact:

Jens Berge, CEO

Phone:

Cathrine Haavind, IR Manager

Phone:

Email:

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

 

 

 

 

EN
09/03/2020

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Awilco Drilling

Martin Huseby Karlsen
  • Martin Huseby Karlsen

Large-cap commentary supports long-term offshore upcycle

Key takeaways from SLB, Halliburton and Baker Hughes Q4 earning calls include positive commentary on the ongoing offshore upcycle. They see continued growth in global EP spending in 2024 (high-single to low-doble digits), driven by offshore and international markets, while North America onshore outlook are less favourable. Lastly, SLB sees potential for more than USD100bn in global offshore FIDs in 2024 and 2025, while Baker Hughes expects over 300 subsea tree awards annually for the next 2–3 ye...

 PRESS RELEASE

AWILCO DRILLING PLC:

AWILCO DRILLING PLC: Awilco Drilling Plc: Keppel to apply for permission to appeal the second arbitration case Further to the stock exchange release of 23 November 2023 from Awilco Drilling PLC ("Awilco Drilling") regarding the ruling of the arbitration tribunal in favour of Awilco Rig 2 Pte. Ltd. ("AR2"), the Company has today been advised that Keppel FELS Limited ("KFELS") have lodged an application for leave to appeal the award of the tribunal with the High Court. We will revert once the High Court has made a decision as regards the application for leave to appeal. Aberdeen, 15 Ja...

Martin Huseby Karlsen
  • Martin Huseby Karlsen

Solid medium-term, but mixed long-term signals from Petrobras

As the largest global consumer of deepwater oil services, Petrobras’ strategic plans tend to attract investor attention. We consider its new 5-year plan mixed, but with solid support for near- to medium-term offshore activity from increased and high spending in 2024–2026. On the other hand, 2027–2028 spending looks set to trend down c20% sequentially, despite having been revised higher compared to its previous plan. Total spending is seen up 31% compared to the previous plan, driven by downstrea...

 PRESS RELEASE

Awilco Drilling PLC: Ruling of the second arbitration case 

Awilco Drilling PLC: Ruling of the second arbitration case  Reference is made to the Half-Year Report 2023 and the stock exchange release of 14 March 2023 from Awilco Drilling PLC (“Awilco Drilling”) regarding the termination of the newbuilding contract between Awilco Rig 2 Pte. Ltd. (“AR2”) and Keppel FELS Limited (“KFELS”) for the construction of a semi-submersible drilling rig, hull number B382. Today, the Company has received the arbitration tribunal ruling which is in AR2’s favour in an amount of USD 43.0 million plus interest and legal costs. The tribunal will issue a further awa...

Martin Huseby Karlsen
  • Martin Huseby Karlsen

High dayrates in Petrobras PLSV tender

Bids have been opened for the large Petrobras PLSV tender, with the key takeaway the solid dayrates offered, supporting our view that PLSVs likely will be key earnings contributors in the coming years for companies active in Brazil, namely Subsea7, DOF (via its 50% of DOFCON) and Paratus (via its 50% of Seabras). While it is unclear how many vessels Petrobras will award under this tender, we believe the high dayrates and solid industry discipline are key. For high-spec PLSVs that are mostly offe...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch