Deepsea Mira drilling rig, owned by Northern Ocean (NOL) and managed by Odfjell Drilling, has completed a drilling contract with Shell offshore Namibia, and is demobilizing to Walvis Bay for planned upgrades and modifications ahead of future operations.
The rig completed the Shell contract on July 2 after starting work on April 4, 2026 and earned its contractual day rate through the completion date.
Shell did not exercise its option for a second well, according to NOL.
The company said the extended duration of the contract resulted in revenue of about $31 million, which will be recognized in the second quarter of 2026. Operating costs continued to align with expectations.
NOL added it is continuing to market and bid the rig for relevant opportunities and said it was encouraged by current demand for harsh-environment drilling capacity.
Based on current demand projections, NOL believes the Deepsea Mira is well positioned to secure further work in the second half of 2026.
The Deepsea Mira is a semi-submersible drilling rig, based on the Moss Maritime CS60 design, which can drill in water depths of up to 10,000 feet.
The rig is compliant with Norwegian Continental Shelf requirements and fully winterized for harsh-environment drilling operations.