The WilPhoenix commenced its contract with AGR on the 27 June and the WilHunter commenced its contract with SPD and Nautical Petroleum on the 1 July. The contract commencements follow on from the rigs’ respective final system testing and commissioning activity, undertaken during mobilization and on location. The additional cost of rig testing, commissioning and mobilization during this phase amounts to circa USD 2.5 million.
The WilPhoenix 2011 AGR multi-well multi-client drilling program has four confirmed wells, with a firm a contract value of approximately USD 29 million. The WilHunter 2011 SPD multi-well multi-client drilling program has two confirmed wells, with a firm contract value of approximately USD 22 million.
Aberdeen, 4 July 2011
For further information please contact:
Jon Oliver Bryce, CEO
Phone: +44 1224 737900
Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.