Northern Offshore Announces Exercise of Contract Option for Jackup Energy Endeavour
HOUSTON, Jan. 29, 2014 /PRNewswire/ -- Northern Offshore, Ltd. (Oslo Bors: NOF.OL) today reported that its subsidiary, Northern Offshore U.K. Ltd., has received notice that Wintershall Noordzee B.V. ("Wintershall") is exercising the first of two six-month options for the jackup Energy Endeavour. The commencement date of the option period will be in direct continuation following the end of the well in progress on May 1, 2014, which commits the Energy Endeavour to Wintershall for continued operation in the Dutch sector of the North Sea through November 2014. This option exercise provides for an operating day rate of US$160,000 per day.
Gary W. Casswell, Northern Offshore's president and CEO, said "We are pleased with the opportunity to continue our relationship with Wintershall and sincerely appreciate their commitment to Northern Offshore."
About the Company
Northern Offshore, Ltd. is a Bermuda holding company which operates offshore oil and gas drilling units and one production vessel in various markets around the world, including the North Sea, the Indian Ocean, Southeast Asia and West Africa. The company's fleet consists of four drilling units (a drillship, a semisubmersible and two jackup drilling rigs) and one floating production facility. Additionally, the company has under construction two 350' high specification jackup drilling rigs, with delivery expected in the first and third quarters of 2016. More information on Northern Offshore, Ltd. may be found by visiting the company's website at http://www.northernoffshorelimited.com.
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SOURCE Northern Offshore, Ltd.