Saudi Aramco chops dayrates for Hercules Offshore’s rigs

Saudi Aramco chops dayrates for Hercules Offshore's rigsOffshore driller Hercules Offshore has seen cuts in dayrates for three of its drilling rigs operating in Saudi Arabia.

Hercules Offshore on Thursday said that it received from Saudi Aramco on March 9, 2016, a notice reducing the dayrates under its five year contracts for the Hercules 261 and Hercules 262 from $67,000 per day to $63,650 per day.

The company said the reduced dayrates would apply from January 1, 2016, through December 31, 2016.

Saudi Aramco also advised the company that the dayrate for the Hercules 266 has been reduced from $67,000 per day to $63,650 per day effective January 1, 2016, through the remaining term of its contract, Hercules Offshore said.

Earlier this week, Baker Hughes released a report in which it said that there were 99 less active international offshore rigs in February than in the same month of 2015. However this doesn’t seem to have much of effect on dayrates and potential new contracts.

Namely, also this week, Transocean, the world’s largest offshore drilling contractor revealed it was not optimistic about the drilling rig market recovery by deciding to delay the delivery and related payments of five high-specification jack-ups until 2020. Transocean ordered these rigs in 2013.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply