Dolphin Drilling announced it has secured a 12-month contract with Nigeria-based General Hydrocarbons Limited (GHL) at a value of $96 million.
The contract for the Blackford Dolphin will commence during Q4 this year. The rig recently completed work in the Gulf of Mexico for PEMEX and will mobilize to Las Palmas for its special periodic survey prior to commencing operations in Nigeria.
Bjørnar Iversen, CEO at Dolphin Drilling, said: “We are proud to announce the final award of the Blackford Dolphin contract, proving our position in the niche moored semisubmersible market. Dolphin Drilling has attractive assets, a strong team and a solid platform to leverage on the favorable market development with improved rates. The contract for Blackford Dolphin underlines the potential of the company and its assets, and we believe Dolphin Drilling will capitalize on the continued expected tight rig market for the rest of the fleet.”
The company recently announced its activation on the Euronext N-OTC list and expects to be listed on Euronext Growth in late October.
Dolphin Drilling’s fleet comprises three fourth- and fifth-generation drilling rigs – the Borgland Dolphin, Blackford Dolphin and Bideford Dolphin.