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Awilco Drilling PLC — M&A Activity 2019
May 3, 2019
3547_rns_2019-05-03_04bcd337-92d0-4d41-b168-b567e336b753.html
M&A Activity
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Awilco Drilling PLC: Options exercised by Shell
Awilco Drilling PLC: Options exercised by Shell
Awilco Drilling PLC is pleased to confirm that Shell UK Limited has given notice of its intention to exercise two options under the WilPhoenix decommissioning contract covering the abandonment of 5 further wells. The contract is therefore extended to 24 firm wells with the firm duration now estimated to run to late Q1 2020. Options remain under the contract for 2 further abandonment wells and 3 exploration wells.
WilPhoenix is one of Awilco Drilling's two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft. Awilco Drilling also has two new build rigs on order of Moss CS60 ECO MW design equipped for drilling in harsh environments, and independent options for additional two rigs of the same design.
Aberdeen, 3 May 2019
For further information please contact:
Jens Berge, CEO
Phone: +44 1224 737900
Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64
Email: [email protected]
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.