Rig: Energy Endeavour

PETRODEC ERDA CONVERSION

Over twelve months Petrodec successfully reactivated and converted a stacked drilling rig into a powerful and versatile multi-purpose decommissioning unit.

Northern Offshore Announces Rosneft Service Order Termination for Jackup Energy Endeavor

Northern Offshore, Ltd. (“Northern Offshore”) today announced North Atlantic Drilling Company Ltd (“NADL”) has received a cancellation notice for use of the Northern Offshore’s jackup Energy Endeavor from Rosneft Oil Company (“Rosneft”) as part of a multi-rig contract to provide drilling services in the Russian Artic commencing in the 2015 summer drilling season. Northern Offshore’s President and CEO Gary Casswell said, “While not unexpected, we are disappointed by this development but will nevertheless continue to pursue future opportunities in this region by leveraging our previous experience drilling in the Russian Artic.”

Northern Offshore releases 'Energy Endeavor' update

Northern Offshore, Ltd. today issued an update to its July 30th, 2014 announcement of a 2 and a half year contract with Rosneft for its jackup drilling unit Energy Endeavor. In conjunction with partners North Atlantic Drilling and Seadrill, Northern has agreed to delay the transaction until the end of May 2015. While Northern and its partners remain committed to the transaction, Northern will market the Energy Endeavor to other clients following its current contract in the Netherlands, subject to availability in the event the transaction is not finally consummated.

Northern Offshore confirms Rosneft contract for 'Energy Endeavour'

Northern Offshore, Ltd. (NOF) today announced that the company has finalized a 2 ½ year contract with Rosneft Oil Company, in conjunction with North Atlantic Drilling Ltd. (NADL), for the provision of the jackup drilling rig ‘Energy Endeavour’. According to the agreement, any break rights expire after 100 days, after which the contract will commence in direct continuation upon the release of the rig by the current client. The company estimates the contract value to be in excess of USD150 million, exclusive of any mobilization fees. Gary W. Casswell, Northern Offshore’s president and CEO, said “This is an exciting opportunity for the company, and we are delighted that Rosneft has selected Northern Offshore and the Energy Endeavour for this program. We look forward to working with them and achieving a safe and successful drilling campaign.”

Wintershall exercised option for 'Energy Endeavor' jackup rig

Northern Offshore Ltd today reported that its subsidiary, Northern Offshore U.K. Ltd., has received notice that Wintershall Noordzee B.V. (“Wintershall”) is exercising the first of two six-month options for the jackup Energy Endeavour. The commencement date of the option period will be in direct continuation following the end of the well in progress on May 1, 2014, which commits the Energy Endeavour to Wintershall for continued operation in the Dutch sector of the North Sea through November 2014. This option exercise provides for an operating day rate of US$160,000 per day.