At least four in frame for Zawtika rig deal

SapuraKencana, Atlantica, Seadrill and Energy Drilling may be joined by Scorpio Drilling in bidding to supply a rig to drill more than 60 development wells for PTTEP’s Zawtika Phase 1B project on Block M-9 off Myanmar. The operator recently completed installation of the Zawtika Phase 1B process platform and three wellhead platforms. PTTEP is also considering conceptual development plans for the Kokonna and Gawthaka fields that would increase Block M-9’s reserves base and extend production from the main Zawtika field.

via Upstreamonline

Seadrill, Rosneft in two-year deal extension with no commitment

In a recent extension of framework deal initially covering six rig contracts between Seadrill and Rosneft, it was mutually agreed “any party can terminate the agreement and/or any offshore drilling contracts at any time prior to 31 May, 2017 at no cost”.

via Upstreamonline

BP axes Seadrill rig deal

BP has called an early end to a contract with a Seadrill Partners-owned semi-submersible rig, the West Sirius, which was on charter to the supermajor from July 2014 to July 2019 at $535,000 a day.

via Upstreamonline

Contractors face ‘Brazil fallout’

Petrobras, which accounts for around 10% of global offshore investments, was recently downgraded to junk by Moody’s. A DNB Markets analysis cited oilfield service and drilling players most exposed to Brazil as Subsea 7, Akastor, Aker Solutions, Technip, DOF, Deep Sea Supply, BW Offshore, Seadrill, Diamond Offshore, Ocean Rig and Ensco.

via Upstreamonline.com

Hibiscus to spud Sea Lion in June

Malaysia’s Hibiscus Petroleum is preparing to drill an exploration well on the Sea Lion prospect by mid-year on permit Vic/P57, off the south-east coast of Australia, using the Seadrill-owned jack-up West Telesto.

via Upstreamonline.com

Archer rig deal cancelled

Seadrill subsidiary Archer has been hit by the cancellation of a contract with Talisman Sinopec Energy UK for its modular platform rig Archer Emerald. The two-year rig deal, due to start in 1Q2016, would have been worth around $96m. Archer is entitled to receive an early termination fee of $34-43m.

via Upstreamonline

Seadrill, Ship France enter deal for West Polaris

Seadrill has exercised a purchase option for the West Polaris, a sixth-generation ultra-deepwater drillship, from Ship Finance International Ltd. The West Polaris was acquired by Ship Finance in 2008 and subsequently bareboat chartered to Seadrill with purchase options commencing in 2012. The purchase option price is $456m and total consideration payable to Ship Finance is $108m.

via E&P

Seadrill Plunges on Dividend Suspension as Rig Market Sours

Seadrill share price record 23% one-day plunge after suspending its dividend. Seadrill is the largest driller by market cap.

via Bloomberg

Seadrill: Offshore drilling market to suffer through 2015

A sluggish offshore drilling market could deteriorate further next year due to weak demand and a flood of new vessels, according to Seadrill, the biggest driller by market cap. Day rates for the most advanced ultra-deepwater rigs peaked around $650,000 last year and are now down in a range of $375,000-$500,000.

via RIGZONE

Seadrill secures contracts for jackup units

Seadrill has secured four new contracts and one extension with total contract value of approximately $319m. Following these fixtures, Seadrill has 92% of its jackup capacity contracted for 2014 and 64% for 2015.  The total order backlog for the jack-up fleet is $4.4bn and average remaining contract duration is 2.6 years.

via E&P