Dolphin Drilling in Semi-Sub Rig LOI

Norwegian offshore drilling contractor Dolphin Drilling has signed a letter of intent with an unnamed client for a potential hire of one of its offshore drilling rigs.

Dolphin Drilling on Monday said the letter of intent had been signed with an operator in Norway, without disclosing the name of the oil company.

The driller said that the potential contract would be for one-well development drilling program in the North Sea, using the semi-submersible drilling rig Borgland Dolphin.

The LOI is subject to final contract. The program is estimated to last 70 days with the start window from February 1, 2020, to May 1, 2020. The LOI also includes two one-well options.

While Dolphin Drilling said nothing on the expected dayrate, Norwegian rig brokers Bassoe Offshore have estimated the dayrate for the rig to be around $170000.

Worth remind, apart from the letter of intent announced on Monday, Dolphin Drilling has recently signed a contract with London-listed i3 Energy for the use of the Borgland Dolphin semi-submersible drilling rig in the UK North Sea.

The i3 contract is for 94 days and is expected to begin between July 15 and August 15, 2019. I3 will use the rig at its undeveloped Liberator oil field and Serenity prospects in the North Sea.