CNOOC Contracts Atwood Hunter for Equa G Drilling

Tuesday, June 24, 2014

CNOOC Africa Ltd. for use of the Atwood Hunter. The contract is for work offshore Equatorial Guinea and specifies a day rate of $337,000 for a minimum term of 90 days and includes an option for one additional well.

Under the contract if the term exceeds 90 days the day rate for days 91 to 180 shall be $330,000. Any term in excess of 181 days shall have a dayrate of $325,000.

The Atwood Hunter is expected to commence the contract mid-August 2014.

In connection with this contract, an Atwood subsidiary and Guinea Ecuatorial de Petroleos (GEPetrol) mutually agreed to terminate the parties’ previously announced contract for the Atwood Hunter provided certain conditions are met.

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