Offshore drilling contractor Constellation has secured a $130 million contract with Brava Energia for its Lone Star ultra-deepwater semi-submersible rig for work offshore Brazil.
The contract is for a firm term of 400 days, with a 60-days priced option which, if executed, may keep the rig busy until the first quarter of 2027.
The value of the contract is about $130 million, excluding managed pressure drilling (MPD) and integrated services.
Lone Star drilling rig will be put to work at Papa-Terra and Atlanta fields, located respectively in the Campos and Santos basins, offshore Brazil, in water depths of up to 1.500 meters, on a scope that includes the drilling and completion of four firm wells, plus one possible workover.
The contract is expected to being in the fourth quarter of 2025, in direct continuation after the rig is released by its current client, Petrobras.
"We are extremely proud of our continuing collaboration with Brava Energia, after our recent campaigns with the Alpha Star in Papa-Terra and Atlanta Fields, showcasing the trust that Constellation has earned from the client over the years. This new contract diversifies our portfolio and, at the same time, reaffirms the suitability of our fleet to the different needs of our multiple clients,” said Rodrigo Ribeiro, CEO of Constellation.
The Lone Star is a 6th generation ultra-deepwater semi-submersible rig capable of drilling in water depths of up to 7,800 feet and has a drilling depth capability of up to 24,600 feet.
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