Anadarko terminates Belford Dolphin contract

Fred. Olsen Energy subsidiary Dolphin Drilling Ltd. has received a termination for convenience notice from Anadarko Petroleum Corp. for the Belford Dolphin drilling rig contract.

Mar 13th, 2015

Offshore staff

OSLO, Norway –Fred. Olsen Energy subsidiary Dolphin Drilling Ltd. has received a termination for convenience notice from Anadarko Petroleum Corp. for the Belford Dolphin drilling rig contract.

The termination will be effective in early September 2015. The termination fee is approximately $52 million.

The unit will undertake its five-year Class Renewal Survey in 2Q/3Q 2015. The five-year CRS and upgrades are estimated to take approximately 100 days and cost $130 million.

03/13/2015

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