HOUSTON – An Atwood Oceanics Inc. subsidiary has agreed to an extension and rate adjustment to its existing contract with Noble Energy Inc. for the Atwood Advantage ultra-deepwater drilling rig.
The agreement is to extend the contract for the purposes of a four-well P&A program in the Gulf of Mexico. The program has an estimated duration of 120 days during the contract term and is anticipated to occur in 2016.
This extension adjusts the operating day rate to about $240,000 only during the four P&A wells and makes the new contract expiry date August 2017.
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