Seadrill wins $118-million drillship commitments

Seadrill has been awarded two drillship contracts in South Korea and the US Gulf of Mexico worth a total value of USD 118 million, the company announced on Tuesday.

West Capella has been engaged for a one-well commitment in South Korea valued at approximately USD 32 million, including a mobilisation fee of around USD 10 million and excluding fees for additional services. The contract is expected to commence in December 2024 and last 40 days.

West Neptune has secured a six-month contract extension in the US Gulf of Mexico in direct continuation of its current engagement. The contract is valued at approximately USD 86 million, excluding fees for additional services.

Seadrill noted that it will upgrade the West Neptune with capabilities for managed pressure drilling (MPD), which allows for better bottomhole pressure regulation and results in improved well control. Following the upgrade, West Neptune will be the tenth rig in Seadrill’s fleet with MPD or MPD-equivalent technologies.

Photo of West Capella drillship courtesy of Seadrill