North Atlantic Drilling: Strengthens Board – Bote de Vries and Hunter Cochrane Appointed as Directors
North Atlantic Drilling Limited (“the Company”) announces today that Bote de Vries and Hunter Cochrane have been appointed as Directors of the Company. Mr. de Vries has extensive legal, asset advisory and financial services experience, specifically in the shipping and maritime sectors. He is a board member of Artilium Plc, …
North Atlantic Drilling – Change of Corporate Management
North Atlantic Drilling Ltd. announces that Ragnvald Kavli, Chief Financial Officer, has decided to leave the Company to pursue other career opportunities and will step down from his duties as of August 17th 2015. Scott McReaken will succeed Mr Kavli as Chief Financial Officer for North Atlantic Drilling. Mr McReaken will …
NADL: West Phoenix Contracted by Total E&P UK
North Atlantic Drilling has been awarded a contract extension for the semi-submersible rig West Phoenix by Total E&P UK Limited, commencing mid-March 2016 and securing work for the unit through the end of August 2016. The total revenue potential for the contract extension is approximately $62 million. A portion of …
NADL: Q1 Results
Highlights from the first quarter – North Atlantic Drilling generates first quarter 2015 EBITDA* of $92.4 million – North Atlantic Drilling reports first quarter 2015 net loss of $11.3 million and loss per share of $0.06 – Seadrill Limited provides guarantees for North Atlantic Drilling’s NOK1.5 billion bond maturing in …
NADL: Confirms Framework Delay
On August 22, 2014 North Atlantic Drilling Ltd. announced that it had entered into a Framework Agreement between NADL, Seadrill and Rosneft Oil Company (“Rosneft”). On November 7, 2014, the closing of the transaction was delayed until the end of May 2015. Today, all parties have mutually agreed to extend …
Rosneft Delays NADL Rig Deal Till 2017
Rosneft and North Atlantic Drilling Limited have agreed to extend the termination date of the Framework Agreement signed on August 20, 2014 until May 31, 2017. Additionally, the parties have agreed to renegotiate the terms and characteristics of the transactions contemplated in the Framework Agreement and the terms of the …
Rosneft: Cancels Northern Offshore's Energy Endeavor Jackup Contract
Northern Offshore, Ltd. announced North Atlantic Drilling Company Ltd (NADL) has received a cancellation notice for use of the Northern Offshore’s jackup Energy Endeavor from Rosneft Oil Company as part of a multi-rig contract to provide drilling services in the Russian Arctic commencing in the 2015 summer drilling season. President and CEO Gary …
Rosneft: Cancels Northern Offshore’s Energy Endeavor Jackup Contract
Northern Offshore, Ltd. announced North Atlantic Drilling Company Ltd (NADL) has received a cancellation notice for use of the Northern Offshore’s jackup Energy Endeavor from Rosneft Oil Company as part of a multi-rig contract to provide drilling services in the Russian Arctic commencing in the 2015 summer drilling season. President and CEO Gary …
North Atlantic Drilling: West Navigator Contract Terminated by Rosneft
North Atlantic Drilling Ltd. (NADL) has received a notice of termination from Rosneft of the service order for the West Navigator in connection with the Framework Agreement. The drillship was indicatively scheduled to commence operations under its five-year contract with Rosneft during the summer of 2015, which would have required …
NADL – North Atlantic Drilling Ltd. – Fourth Quarter and Preliminary 2014 Results
Highlights from the fourth quarter North Atlantic Drilling generates fourth quarter 2014 EBITDA*) of US$135.3 million North Atlantic Drilling reports fourth quarter 2014 net loss of US$474.7 million and earnings per share of US$(1.99) North Atlantic Drilling reports a non-cash charge to its goodwill of US$480.6 million Subsequent events North …