Dubai-based Shelf Drilling has landed new contracts for two jackup rigs in Nigeria.
The Oslo-listed jackup rig pure-play has firmed up the letter of award from September into a three-year contract for the Shelf Drilling Achiever with operations starting in October this year.
The contract comes attached with an option for up to two years at rates to be mutually agreed, the company said in a filing.
The second deal is a two-year extension for the Adriatic I jackup, starting in February 2025 with a one-year extension option added.
The combined contract value for the firm period added for the two rigs, excluding mobilisation and demobilisation is $234m.
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino.
Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.
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