Shelf Drilling Ltd. secured a three-year contract on May 20 for the recently acquired premium jackup rig – Shelf Drilling Achiever, for operations in the Arabian Gulf.
The contract includes a one-year option, and the planned start-up of operations is fourth-quarter 2019.
Together the projects have the potential to power more than one million U.S. homes, with BP becoming a 50% non-operating partner.
The merger of the two shale producers, both Permian Basin pure-plays, follows a growing wave of consolidation spreading across the E&P space.
President’s remarks at his rally described hypothetical calls with oil executives.