Seadrill updates rig contracts, stacking developments

Feb. 24, 2022
Seadrill has issued an update on the status of its offshore drilling fleet in its latest results statement.

Offshore staff

LONDON – Seadrill has issued an update on the status of its offshore drilling fleet in its latest results statement.

Post 2Q 2021, the company had two harsh environment rigs operating offshore Norway, with the West Elara remaining on contract with ConocoPhillips and the West Phoenix starting operations for Vär Energi.

Seadrill sold the harsh-environment semisubmersible West Venture, which had been cold stacked for a few years, to Rota Shipping for recycling.

At the end of 2Q 2021, the company had four drillships and one benign-environment semi in operation. The West Neptune and Sevan Louisiana were under contract in the Gulf of Mexico with LLOG and Walter Oil & Gas respectively.

Off Brazil, the West Tellus was working for Shell and the West Saturn for ExxonMobil, while West Gemini started a program offshore Angola.

Currently, the West Jupiter and the West Carina are being reactivated for long-term assignments for Petrobras on the Búzios field in the pre-salt Santos basin off Brazil.

As for jackups, the AOD I, AOD II, AOD III, and West Callisto continued operations offshore Saudi Arabia for Saudi Aramco. The West Castor, West Telesto,and West Tucana remained on bareboat charter to the Gulfdrill joint venture in Qatar.

Seadrill sold the six long-term cold stacked rigs West Freedom, West Pegasus, West Eminence, West Navigator, West Orion, West Alpha during 2Q 2021, and more recently West Venture.

It has identified two more for its rig disposal program, Sevan Brasil and Sevan Driller, which it plans to either sell or recycle this year.

The company continues to market the cold-stacked benign environment semisubmersible West Eclipse and four cold-stacked jackups West Ariel, West Prospero, West Leda and West Cressida.

As for Seadrill’s three leased harsh environment units operating in the North Sea, the West Linus and the West Hercules, under contract with ConocoPhillips and Equinor, are due to be handed back to SFL later this year. The West Bollsta completed operations with Lundin in February 2022 and the rig will shortly be returned to Northern Ocean.

As for drillships, the West Capella and West Vela will both be handed back to owner Aquadrill in 2Q 2022.