Dolphin Drilling Ends Contract with Peak Petroleum Industries Nigeria Limited

Offshore drilling contractor, Dolphin Drilling, has officially terminated its contract for a semi-submersible rig with Peak Petroleum Industries Nigeria Limited, citing persistent breaches of terms by the Nigerian company. The decision comes after Dolphin Drilling had inked a new contract in March 2023 for the Blackford Dolphin semi-submersible rig’s operations off Nigeria, complete with an effective day rate of $325,000 for the minimum firm contract period, including the mobilization fee.

Dolphin Drilling’s decision to terminate the contract is rooted in what it perceives as an ongoing breach of the agreed terms by Peak Petroleum Industries Nigeria Limited. The 1974-built Blackford Dolphin is a semi-submersible drilling rig designed with an Enhanced Aker H-3, capable of accommodating 120 people.

Throughout the quarter, the Blackford Dolphin has been actively engaged in operations for General Hydrocarbons Limited (GHL), achieving an impressive 98.3% operational performance. Dolphin Drilling notes that the contract backlog reported in the third-quarter report for 2023 has been adjusted to account for the contract termination but will maintain the same level as initially reported.

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