Odfjell Drilling is pleased to announce that OMV today has exercised the second optional well of the contract. The next well is an appraisal well also with “high pressure high temperature”-characteristics on the Norwegian Continental Shelf. Please further note that the first optional well of the contract is no longer applicable, however the parties have agreed to add a third optional well.
The contract commencement is scheduled to Q2 2019 and has an expected duration of approx. 140 days. The total contract value is up to USD 28 million.
For further queries, please contact:
Eirik Knudsen, VP Corporate Finance & Investor Relations
+47 934 59 173
29 June 2018
Odfjell Drilling Ltd.
Odfjell Drilling has today signed a Letter of Intent for Deepsea Bergen with MOL Norge for one exploration well in direct continuation of the contract with OMV Norge, estimated to expire in Q3/Q4 2019.
Odfjell Drilling has today 11. September 2018 signed a contract with Ithaca Energy (UK) Limited for one firm production well, plus optional wells with commencement in either 2019 or 2020 to be mutually agreed, on the UK Continental Shelf ("UKCS").
Reference is made to the stock exchange notice of 21 April 2017 whereby Odfjell Drilling announced a one-well contract plus two optional wells for its semi-submersible Deepsea Bergen with OMV (Norge) (“OMV”). The first well was finalized in April 2018 with a successful discovery as earlier reported by OMV.
ODL – Odfjell Drilling signs drilling contract for Deepsea Atlantic and the Master Frame Agreement with Equinor