Awilco Drilling has announced that its fully owned subsidiary Awilco Rig 2 Pte. Ltd., on March 22, signed a contract with Keppel FELS shipyard in Singapore for the building of one new CS60 ECO MW semisubmersible drilling rig.
The rig is designed for harsh environment use, and will be equipped and certified for drilling on the Norwegian Continental Shelf, including in the Barents Sea, in water depths up to 5,000 ft (1,524 m).
The cost for the rig delivered from the yard in Singapore is approximately $425 million. Delivery is planned for late first-quarter 2022. The company also has options to build up to two further additional rigs of similar design, such options to be independent of each other.
In addition to the newbuilding contract announced above and the first CS60 ECO MW currently under construction, Awilco Drilling Plc owns and operates the two Enhanced Pacesetter semisubmersibles WilPhoenix and WilHunter, equipped for drilling in water depths up to 1,200 ft and 1,500 ft respectively.
Williams said it reached an export agreement with Beacon Offshore and its co-owner for the Shenandoah deepwater oil field through its Discovery infrastructure in the central Gulf of Mexico.
Companies report drilling and well completions activity and pricing are edging higher.
Successful results from Ring Energy’s development program in the Permian Northwest Shelf are “encouraging and reinforce our confidence in the strong inventory of drilling locations on our NWS acreage,” says CEO Paul D. McKinney.