Paragon DPDS2 (Paragon Offshore) (Drillship)

Keppel to upgrade and repair 2 Noble drillships for US$304 million in Brazil

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23 November 2009

Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary, Keppel FELS Brasil, has secured contracts from Noble Corporation (Noble) to upgrade and repair two of Noble's Brazil-based drillships for US$304 million (S$421.6 million). The scope of work covers the fabrication, repair and replacement of components, including the stern section, accommodation blocks, sponsons and heliport. Work on the drillships, Noble Leo Segerius and Noble Roger Eason, will be done sequentially at Keppel’s BrasFELS yard in Angra dos Reis, beginning with the arrival of the first drillship by early 2011. The two deliveries are scheduled between the last quarter of 2011 and the first half of 2012 respectively. Meanwhile, both parties are in advanced talks on the upgrading of a third Brazil-based drillship operated and majority-owned by Noble.

Source: http://www.keppelom.com/en/news_item.aspx?sid=2605&aid=2180


More News for Operator: Paragon Offshore

23 Nov 2009

Keppel to upgrade and repair 2 Noble drillships for US$304 million in Brazil

Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary, Keppel FELS Brasil, has secured contracts from Noble Corporation (Noble) to upgrade and repair two of Noble's Brazil-based drillships for US$304 million (S$421.6 million). The scope of work covers the fabrication, repair and replacement of components, including the stern section, accommodation blocks, sponsons and heliport. Work on the drillships, Noble Leo Segerius and Noble Roger Eason, will be done sequentially at Keppel’s BrasFELS yard in Angra dos Reis, beginning with the arrival of the first drillship by early 2011. The two deliveries are scheduled between the last quarter of 2011 and the first half of 2012 respectively. Meanwhile, both parties are in advanced talks on the upgrading of a third Brazil-based drillship operated and majority-owned by Noble.

4 Aug 2014

Paragon Offshore completes spin-off from Noble Corporation

Paragon Offshore plc (Paragon) announced today the completion of its spin-off from Noble Corporation plc (Noble) into a separate, publicly-traded company that owns and operates standard specification offshore drilling rigs. On August 1st, 2014, Noble distributed to its shareholders one ordinary share of Paragon for every three ordinary shares of Noble held at 5:00 p.m., New York City time, on the record date of the distribution, July 23rd, 2014. No fractional Paragon shares were issued; however, shareholders who would otherwise have been entitled to receive a fractional Paragon share in the distribution instead received cash in lieu of that fractional share. Paragon ordinary shares will begin "regular-way" trading under the symbol "PGN" on the New York Stock Exchange on August 4th, 2014. "We are excited about the completion of the spin-off and the launch of Paragon Offshore," said Randall D. Stilley, President and Chief Executive Officer of Paragon. "Our rich heritage from Noble's ninety-three year history sets the stage for future growth opportunities while enabling us to continue delivering the safe, reliable and cost-effective operations our customers expect. We look forward to a bright future." Paragon will now own and operate 42 offshore drilling rigs (34 jackups, five drillships and three semisubs), one FPSO and conduct contract labour operations on the Hibernia Platform offshore eastern Canada.

7 Aug 2014

Soco spuds new exploration well in Congo (Brazzaville)

SOCO announces that the Lidongo X Marine-101 (LXM-101) exploration well has spudded in the Marine XI Block, located in the Congo Basin, offshore the Republic of Congo (Brazzaville). The LXM-1 well is designed to test the extension of an adjacent gas/condensate/oil field into the Marine-XI license block. The LXM-101 well is located 23 kilometres north west of Pointe Noire in a water depth of approximately 45 metres. The planned total depth for the well is provisionally estimated to be 2,600 metres Total Vertical Depth subsea (TVDss), although provision has been made to continue drilling to a maximum depth of circa 3,100 metres TVDss, terminating in the lower most part of the Djeno sandstone formation. The well will be drilled using the jack-up drilling rig ‘Paragon L782’, and is expected to take 35 to 45 days to drill.

16 Oct 2014

Soco strikes with exploration well offshore Congo (Brazzaville)

SOCO announces that SOCO EPC, operator of the Marine XI Block offshore the Republic of Congo (Brazzaville), has completed drilling the exploration well Lidongo X Marine 101 well (LXM-101). The well encountered oil in a clastics sequence in the Djeno sand formation with drilling shows and early log interpretation indicating approximately a 50 metre gross interval. Located 23 kilometres northwest of Pointe Noire in a water depth of approximately 45 metres, the LXM-101 well was drilled to a total depth of 2,665 metres after penetrating the target hydrocarbon zone. Analysis of the logs over the hydrocarbon zone indicates petrophysical parameters in line with those published for the Litchendjili field on the adjacent Marine XII Block operated by ENI. Due to the tight nature of the reservoir sands a 20 metre section has been selected for testing. The zone will be tested after a 7" liner is set and cemented. Testing, including utilising a stimulation frac, is expected to take approximately three weeks. After the completion of testing there will be a further release with results. SOCO EPC holds a 40.39% interest in the Marine XI Block. Project partners are WNR (23%), SNPC (15%), AOGC (13.11%) and PetroVietnam (8.5%).

11 May 2015

Paragon announces contract cancellations in Mexico

Paragon Offshore plc. (“Paragon”) has announced that on the 6th May 2015, the company received written notices of termination from PEMEX – Exploracion y Produccion (“Pemex”) for the Paragon L1113 and Paragon B301 jackup rigs. Pemex exercised its 30 days right to terminate notice and the contracts are due to come to a conclusion in late May 2015.

25 Sep 2015

Noble completes Cheetah exploration well in Cameroon

Noble Energy, Inc. (“Noble”) has announced that the Cheetah exploration well in the Tilapia license offshore Cameroon reached the targeted Cretaceous interval and is being plugged and abandoned. The well encountered both crude oil and natural gas shows in multiple non-commercial reservoir sands. Results from the well are being integrated into Noble’s geologic modeling for the remaining prospectivity in the Tilapia license. The rig, which drilled the Cheetah well to a total depth of approximately 13,320 feet, will be released at the completion of well operations.

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