Revus/Petra agree rig-share

Revus Energy and Pertra have agreed to contract Odfjell's semisubmersible drilling rig Deepsea Delta for three years of work on the Norwegian shelf.

Offshore staff

STAVANGER, Norway --Revus Energy and Pertra have agreed to contract Odfjell's semisubmersible drilling rig Deepsea Delta for three years of work on the Norwegian shelf.

The rig, built in 1981, has undergone several upgrades since 1996. It is equipped with a 15,000 psi BOP, and can drill in water depths of 450 m (1,476 ft). Currently, it is under contract to Hydro, but will transfer to Revus/Pertra in March 2009.

The contract term is three years at a day rate of $435,000, with an option for an extension to five years at a reduced day rate. Revus is committing to one-third of the contract, and Pertra to the remainder.

08/16/2007

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