Seadrill secures multiple offshore drilling contracts worth nearly $98 million

January 30, 2024

(WO) – Seadrill Limited announced multiple contract awards totaling approximately $97.5 million in value, in addition to an update on the West Auriga.

Seadrill's West Auriga rig

Talos Production Inc. has awarded the West Vela a drilling contract with an estimated duration of 150 days in the U.S. Gulf of Mexico. The contract is expected to commence in the third quarter of 2024 and represents a total contract value of approximately $73.5 million, excluding managed pressure drilling (MPD) services.

The operator of the West Capella exercised a one-well option with the existing third-party manager, extending its operations by approximately two months. The drilling contract is in direct continuation of the rig’s current program and represents a total contract value of approximately $24 million.

Seadrill has been advised by the current manager of the West Auriga that the rig will be released in February 2024 due to changes in their client's drilling sequence. This enables Seadrill to resume management of the rig in the first quarter of 2024, accelerate preparation for its previously announced contract in Brazil beginning in the second half of 2024, and more quickly achieve synergies from the 2023 acquisition of Aquadrill.

Seadrill is a leading offshore drilling contractor utilizing advanced technology to unlock oil and gas resources for clients across harsh and benign locations around the globe. Seadrill's high-quality, technologically advanced fleet spans all asset classes allowing its experienced crews to conduct operations across geographies, from shallow to ultra-deepwater environments.

Connect with World Oil
Connect with World Oil, the upstream industry's most trusted source of forecast data, industry trends, and insights into operational and technological advances.