Scorpion options for fifth jackup

Scorpion Offshore Ltd. says its wholly owned subsidiary, Scorpion Intrepid Ltd., has exercised its option to construct its fifth LeTourneau Super 116 rig at Keppel AmFELS shipyard in Brownsville, Texas.

Offshore staff

(Bermuda) - Scorpion Offshore Ltd. says its wholly owned subsidiary, Scorpion Intrepid Ltd., has exercised its option to construct its fifth LeTourneau Super 116 rig at Keppel AmFELS shipyard in Brownsville, Texas.

All five units are ultra-premium class jackups suited for both international operations as well as deep gas drilling in the GoM. The rig, namedOffshore Intrepid, will be delivered in November 2008 at a cost of $143 million, which includes all start-up and financing costs.

The company's latest order will come equipped with 477-ft legs and will be capable of drilling wells to 30,000 ft in water depths up to 400 ft. Deliveries of the five jackups from Keppel AmFELS will begin in May 2007.

Scorpion Offshore was founded in 2005 with the sole purpose of owning and operating offshore drilling rigs. The company says it intends to follow the successful business model implemented at Chiles Offshore, Inc., a company that was acquired by ENSCO International in 2002.

02/01/06

More in Drilling & Completion