AWDR - Letter of Intent signed for WilPhoenix

Awilco Drilling PLC has signed a Letter of Intent with an undisclosed operator for the provision of WilPhoenix. The one well program has an estimated duration of 115 days and will commence in direct continuation from the rig's current contract with Apache North Sea Limited in Q2 2018. The contract...

Awilco Drilling PLC has signed a Letter of Intent with an undisclosed operator for the provision of WilPhoenix. The one well program has an estimated duration of 115 days and will commence in direct continuation from the rig's current contract with Apache North Sea Limited in Q2 2018. The contract value is estimated at USD 13.8 million.

WilPhoenix is one of Awilco Drilling's two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,200 ft.

For further information please contact:

Jon Oliver Bryce, CEO
Phone: +44 1224 737900

Cathrine Haavind, IR Manager
Phone: +47 9342 8464


This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

---