Scorpion terminates agreements for newbuild semi

Scorpion Deepwater has been unable to secure necessary financing for the construction and delivery of a DSS-38 class semisubmersible drilling rig.

Offshore staff

HAMILTON, Bermuda -- Scorpion Deepwater has been unable to secure necessary financing for the construction and delivery of a DSS-38 class semisubmersible drilling rig.

The company has reached agreement with Keppel FELS and third party vendors to amicably terminate the construction contract and equipment orders on mutually acceptable terms.

01/09/2008

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