Scorpion Offshore - Offshore Vigilant completes operations on first
of two wells
(Thomson Reuters ONE) - HAMILTON, BERMUDA - 15 October 2009Scorpion Nederlandse B.V, Venezuela Branch., a wholly-ownedsubsidiary of Scorpion Offshore Ltd. ("Scorpion" or the "Company")has commenced demobilization operations from the URUMACO I (COR-AX)well (the "Well") located in the Gulf of Venezuela.The Offshore Vigilant had been conducting operations on the Well forUrdanetaGazprom-1 S.A. ("Gazprom") since November 2008. The Companyhas contracts with two Gazprom affiliates (the "Contracts") each forone well plus options for two additional wells.Gazprom has advised Scorpion of its decision to plug and abandon theWell and that UrdanetaGazprom-2 S.A. was not in a position tocommence operations on the second well in direct continuation of thefirst well as provided in the Contracts. Gazprom has requested thatScorpion demobilize the rig to Trinidad until further notice. Allcosts associated with the demobilization are for the account ofGazprom.Currently, the Offshore Vigilant is under tow in international watersand expected to arrive in Trinidad later this week. The Company is indiscussions with Gazprom regarding its future plans and alsodiscussing the near term potential availability of the Rig withprospective clients in the region.Scorpion has outstanding receivables totaling approximately $29million due from Gazprom. Gazprom has indicated that they anticipatesettling the outstanding amounts on 26 October 2009.Scorpion Offshore Ltd. is a Bermuda based corporation founded in 2005to own and operate state-of-the-art offshore drilling rigs.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: 15.10.2009 - 15:16 Uhr
Sprache: Deutsch
News-ID 6963
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