Odfjell Drilling said on Jan. 29 that BP (NYSE: BP) will continue to use the company’s platform drilling services on the U.K. continental shelf.
BP has awarded Odfjell Drilling a contract for platform drilling and maintenance services on three of its platforms in the U.K. North Sea. The contract period is for two years, with an additional two by one year options. The current contract will continue until end January 2019 followed by the commencement of the new contract. The firm contract period has an estimated value of up to $50 million.
“We welcome and appreciate this new contract award from BP and look forward to a further long and productive working relationship,” Ole Fredrik Maier, executive vice president of platform drilling, said.
Percussion Petroleum II will pursue the same acquisition and development strategy as its predecessor, which sold its position in the Permian Basin’s Northwest Shelf to Spur Energy Partners in mid-2019.
WPX plans to implement a dividend in conjunction with the Felix acquisition, targeting about $0.10 per share on an annualized basis at initiation.
Crestone Peak Resources is believed to be the buyer of ConocoPhillips’ Niobrara asset, which covers about 98,000 net acres in the southern D-J Basin.