'Strong Dayrate' for Dolphin Drilling's Rig in Nigeria

Offshore drilling firm Dolphin Drilling said Thursday it had secured a new contract for Blackford Dolphin with Peak Petroleum in Nigeria.

The contract with Peak Petroleum will extend the rig's stay in Nigeria and is in direct continuation of the previously announced 12-month contract with General Hydrocarbons Limited (GHL).

As reported in January, Dolphin Drilling secured a Letter of Award (LOA) for the rig, but it, at the time, did not say who the client was.

Dolphin Drilling said that the new contract could potentially extend the backlog by a minimum of 120 and up to 485 days, in addition to the existing GHL backlog. 

The effective dayrate associated with the minimum firm period of the contract is USD 325,000, including the mobilization fee, the company said.

Bjørnar Iversen, CEO of Dolphin Drilling said: "The final award of the contract for Blackford Dolphin shows the opportunities in Nigeria at a strong dayrate, in addition to building on the backlog for the rig. It also underlines the attractiveness of our assets, and we look forward to returning to revenue-generating operations in 2023."

The semi-submersible drilling rig was built in 1974; however, according to Blackford Dolphin's spec sheet, the rig underwent significant upgrades in 2008. The Blackford Dolphin recently completed its recertification for a new five-year period in Las Palmas, Spain, following its recent arrival from Mexico.

The rig has a maximum operating water depth of 6,000 feet (1829 meters) and a maximum drilling depth of 30,000 feet (9,144 meters).

Dolphin Drilling owns three 4th and 5th generation semi-submersible drilling rigs, Borgland Dolphin, Blackford Dolphin, and Bideford Dolphin

The Borgland Dolphin and Bideford Dolphin are currently stacked in Norway.

In 2021 it signed a deal with Singapore's offshore rig builder Keppel Fels, securing the marketing rights for two 7th-generation KFELS Moss Maritime CS60 ECO MW semi-submersible drilling rigs.

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