Scorpion Offshore - Offshore Defender Contract Extension
(Thomson Reuters ONE) - HAMILTON, BERMUDA - 25 September 2009Petrobras has awarded a subsidiary of Scorpion Offshore Ltd.("Scorpion" or the "Company") a two year contract extension for thejackup Offshore Defender for continued operations offshore Brazil.The extension period will commence in direct continuation of therig's current program and will keep the Offshore Defender employeduntil February of 2012. The extension period has a contract value of$94.3 million.Jon Cole, President and CEO, stated, "Scorpion is proud to receivethis contract extension from Petrobras which allows the Company tocontinue to provide safe and reliable operations to our valuedcustomer. We look forward to continuing our relationship withPetrobras and are pleased to maintain an active role in theexploration and production activities offshore Brazil".Currently, the Company has six jackups working for various operatorsaround the world. The extension of the Offshore Defender's contractincreases the Company's backlog to $771 million as of 31 August 2009and brings the percentage of days contracted to 70% and 67% forcalendar years 2010 and 2011 respectively. On average, thisrepresents contract coverage in excess of two years per rig atdayrates around $170,000. The Company's seventh jackup, the OffshoreMischief, is under construction in Sharjah, U.A.E. and is currentlybeing marketed for sale.Scorpion Offshore Ltd is a Bermuda based corporation founded in 2005,which owns and operates six state-of-the-art offshore jackup drillingrigs built between 2007 and 2009 and has one comparable rig underconstruction.Contacts:Jon Cole, President and CEO (713) 728-6100Mark Mey, SVP and CFO (713) 728-6100www.scorpionoffshore.comThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 25.09.2009 - 17:12 Uhr
Sprache: Deutsch
News-ID 6253
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