With this extension, the rig’s current contract commitment will be extended from 24 August 2011 until between 24 November 2011 and 24 January 2012, depending on the length of the drilling program.
The value of the contract extension is estimated to be between $27m and $45m.
With the execution of this contract extension, all of the company’s deepwater semi-submersible drilling units are now fully contracted through fiscal year 2011, and its current contract backlog is approximately $1.2bn.
