Saudi Aramco is reducing dayrates by 5% with Hercules Offshore for three jackup rigs.
On 9 March, Saudi Aramco sent Hercules a notice of the reductions for five-year contracts for the Hercules 261 and Hercules 262 from US$67,000 per day to $63,650 per day. The reduced dayrates will apply from 1 January 2016, through 31 December 2016.
Saudi Aramco also advised of the reduced dayrate for the Hercules 266 from $67,000 per day to $63,650 per day effective 1 January 2016, through the remaining term of its contract, which is set to end in April.
In June, Saudi Aramco rescinded its contract termination for the Hercules 261, which is expected to run until November 2019.
Image from Hercules.
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