Northern delays jackup rig deliveries

Offshore staff

HOUSTON – Northern Offshore Ltd. has negotiated a nine-month delay in the deliveries of its high-specification jackups, Energy Engager and Energy Encounter, from a shipyard in China. The new delivery dates are December 2016 and June 2017, respectively.

“We sincerely appreciate the cooperation of our shipyard to allow us to delay the delivery of these units to enable us to better match contract opportunities in what we believe will be a more robust market at that time,” said Gary Casswell, president and CEO. “This will allow us to defer approximately $22 million in owner furnished equipment expenditures for these units from calendar year 2015 to 2016.”

03/31/2015

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