Rockhopper Exploration plc has provided its latest operational and corporate update which includes the North Falkland Basin Sea Lion project and has announced that the technical engineering is approaching conclusion and a settlement on the Eirik Raude rig dispute has been reached.
Ocean Rig UDW Inc. has officially announced that two of its drilling contracts have been terminated, one of them in the Falkland Islands where its Eirik Raude was working for Premier Oil as the main operator. Ocean Rig is demanding a termination fee of several million dollars and in case Premier Oil contests the payment, we intend to commence arbitration proceedings.
Ocean Rig, the Greek offshore drilling contractor has highlighted in its latest fleet update two rigs coming out of employment shortly with no immediate prospects. Both rigs have little or no “further prospects of employment” according to Ocean Rig and will be cold stacked while disposing of or scrapping the rigs is considered.
Edinburgh explorer Cairn Energy ended this week this year’s 600 million dollar drilling program off Greenland after the biggest exploration campaign attempted in the Arctic island’s waters failed to make a viable discovery.