Dolphin Drilling, an offshore drilling contractor, has decided to terminate its contract for the Blackford Dolphin semi-submersible rig with Peak Petroleum Industries Nigeria Limited (Peak Petroleum) for operations off Nigeria. The contract, signed in March 2023, specified an effective day rate, including the mobilization fee, associated with the minimum firm contract period at $325,000.
The termination is attributed to what Dolphin Drilling perceives as a continued breach of the contract by Peak Petroleum. The Blackford Dolphin, built in 1974, is a semi-submersible drilling rig following an Enhanced Aker H-3 design, with a capacity for 120 people. Despite the termination, the rig achieved a notable 98.3% operational performance while operating for General Hydrocarbons Limited (GHL) throughout the quarter.
Dolphin Drilling clarified that the contract backlog reported in the third quarter of 2023 would be adjusted to account for the contract termination but would remain at the previously reported level. Notably, Dolphin Drilling recently secured a long-term contract for the Borgland Dolphin semi-submersible rig in the UK with EnQuest.