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.

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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