NuCoastal extends jackup Vicksburg contract

NuCoastal (Thailand) has extended the firm period of its contract for the jackup Vicksburg from 90 days to 120 days.

Offshore staff

HOUSTON -- NuCoastal (Thailand) has extended the firm period of its contract for the jackup Vicksburg from 90 days to 120 days. The contract with Atwood Oceanics also provides NuCoastal with an option to extend the drilling program another 90 days.

If the duration of the program is for the120-day firm period only, the operating day rate will be $95,000; however, if NuCoastal exercises the option to extend the drilling program to 210 days, the operating day rate will be adjusted to $90,000 for the entire period.

Vicksburg is currently undergoing an upgrade at a shipyard in Thailand. The rig is expected to begin its contract with NuCoastal later this month.

08/07/2009

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