Decus (Oro Negro) (Jackup)

Oro Negro reaches rate reduction deal with Pemex for four jackups

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26 August 2015

Integradora de Servicios Petroleros Oro Negro, S.A.P.O. de C.V. (“Oro Negro”) and Pemex-Exploración y Producción (“Pemex”) have agreed on terms for amending their outstanding charter leases for Oro Negro’s Primus, Laurus, Fortius, and Decus jackup rigs. The amendments provide that the daily rental rate payable to Oro Negro for each of the rigs will be reduced from approximately USD160,000 to USD 130,000, for the period June 1st, 2015 through May 31st, 2016. From and after June 1st, 2016, the daily rental rate will return to approximately USD160,000. In addition, the charter leases will each be extended by one year.


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