Rig: Noble Valiant

Maersk Valiant contract cancelled

An early termination agreement for the deepwater unit Maersk Valiant has been signed by Maersk Drilling and ConocoPhillips and Marathon Oil with effect from mid-September 2016. Maersk Valiant has been on a joint contract with Marathon Oil Corporation and ConocoPhillips since June 2014. The original contract was scheduled to end September 2017. The compensation under the early termination agreement leaves Maersk Drilling financially neutral to the original contract. “With the termination of Maersk Valiant, we are reminded of the extremely challenging conditions in the offshore oil and gas market. It is with regret that we will see a high performing rig such as the Maersk Valiant without work, but we will continue to explore opportunities with our customers and seek ways to create innovative solutions to enable project viability,” says Head of Global Sales, Michael Reimer Mortensen. Maersk Valiant was built in 2014 and is equipped with dual BOPs as well as an integrated MPD system. The Rig is designed for year-round operation in areas such as the Gulf of Mexico, West and East Africa and Asia Pacific at water depths of up to 3,600 m (12,000 ft.).

Key Largo prospect to be spudded by 'Maersk Valiant'

Maersk Drilling recently dedicated their second and third ultra-deepwater drillships, one of which, the ‘Maersk Valiant’, will begin a three year contract with Marathon Oil and ConocoPhillips for drilling programs in the Gulf of Mexico (GoM). The ‘Maersk Valiant’ and ‘Maersk Venturer’ were officially named during a ceremony held at the Samsung Heavy Industries shipyard in Geoje-Si, South Korea on January 23rd. Annell Bay, Marathon Oil Vice President of Global Exploration, had the honor of serving as sponsor of the ‘Maersk Venturer’ during the ceremony. The first well scheduled to be drilled by the ‘Maersk Valiant’ will be at Marathon Oil’s Key Largo prospect in the GoM during the fourth quarter of 2014. “The delivery of the Maersk Valiant later this year will mark an exciting period of time for Marathon Oil. This drillship provides us with a dedicated deep-water asset to undertake exploration on the leases our Company has purchased in the Gulf of Mexico,” said Bryan J. Roy, vice president of Worldwide Drilling & Completions. “We all look forward to spudding the Key Largo well using this state-of-the art drillship that has been engineered for maximum safety and efficiency.

'Maersk Valiant' drillship is successfully delivered to Maersk Drilling

Maersk Drilling has successfully taken delivery of the company’s second newbuild drillship, ‘Maersk Valiant’. The ‘Maersk Valiant’ was delivered on the 16th April 2014 from Samsung Heavy Industries (SHI) shipyard in Geoje, South Korea. ‘Maersk Valiant’ is the second in a series of four ultra-deepwater drillships to enter Maersk Drilling’s fleet. The four drillships represent a total investment of US$2.6 billion and will be delivered from the SHI shipyard in 2014. ‘Maersk Valiant’ has begun its voyage towards the US Gulf of Mexico via Singapore to commence a two year contract with ConocoPhillips and Marathon Oil Corporation. Maersk Drilling has been active in the US Gulf of Mexico since 2009 with the ultra-deepwater semi-submersible ‘Maersk Developer’. With ‘Maersk Viking’ and ‘Maersk Valiant’ entering the US Gulf of Mexico, Maersk Drilling is becoming a significant drilling contractor in the US Gulf of Mexico, which together with West Africa, are the target regions for Maersk Drilling’s deepwater activities. The estimated contract value with ConocoPhillips and Marathon Oil Corporation for ‘Maersk Valiant’ is US$694m including mobilisation, but excluding cost escalation.

Maersk Drilling names two more of its newbuild drillships

Maersk Drilling (Maersk) has announced the naming of two of the company’s newbuild ultra-deepwater drillships following on from the naming of the ‘Maersk Viking’ back in October 2013. Maersk has named its second drillship the ‘Maersk Valiant’ whilst the third unit will be called the ‘Maersk Venturer’. Both the ‘Maersk Valiant’ and ‘Maersk Venturer’ are due to be delivered from Samsung Heavy Industries shipyard in South Korea during 2014, with the ‘Maersk Valiant’ going to work for ConocoPhillips and Marathon Oil in the US GoM upon delivery. The ‘Maersk Venturer’ is yet to secure a contract.