Five-year contract extension for Shelf Drilling jackup rig

Shelf Drilling has gained a five-year extension to the contract for the High Island V jackup rig.

This will take effect on expiry of the current contract with the same client, keeping the rig occupied through July 2030.

Value of the extension is about $133 million. 

Shelf Drilling CEO Greg O’Brien said the arrangement was an acknowledgement of the rig team’s safety and operational track record over more than 10 years.