Rig owner Dolphin Drilling has signed a letter of intent for a potential new contract for one of its semisub rigs.
The deal is for the 1990-built semisub Paul B. Loyd Jr., which it acquired from Transocean in 2024.
The LOI, subject to certain conditions, outlines the parties’ intention to work towards a contract with a duration of two-and-a-half years, until August 2030.
According to an Oslo Bors statement, the new contract will be in direct continuation of the unit’s current contract and will materially increase Dolphin Drilling’s backlog and provide long-term earnings visibility through 2030.
Subject to future project requirements, the operator also retains options to extend the engagement for up to a further five years beyond the firm contract period.
The rig is currently operating in the UK North Sea with Harbour Energy. The semisub is booked through to February 2028. Harbour Energy also has another five one-year extension options. Even though the statement does not list the client’s name, it is likely that the LOI was signed with Harbour Energy.
“When you share your news through GEN, you’re not just getting coverage – you’re getting endorsed by the energy sector’s most trusted voice.”
