(Oslo, 22 June 2023) Briggs Drilling Holdings Limited AS ("Briggs Drilling Holdings Limited") (OSE: DDRIL) announces an LOI for a three-year extension to the firm contract period for the Paul B. Loyd Jr.
Briggs Drilling Holdings Limited has received a commitment subject to certain conditions from Harbour Energy to extend the firm contract period for Paul B. Loyd Jr for an additional three years until September 2027. The total existing firm contract plus the new extended commitment represents an estimated contracted revenue backlog of USD 279 million.
Harbour Energy also maintains a further five one-year options for future projects post the extension period.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 the Norwegian Securities Trading Act.
This stock exchange announcement was published by Ingolf Gillesdal, VP Corporate Finance and Investor Relations Briggs Drilling Holdings Limited AS on 22 June 2023 at the time set out in this notice on behalf of the Company.
ENDS
For further information, please contact:
Bjørnar Iversen, Chief Executive Officer, Mobile: +47 932 40 417
Ingolf Gillesdal, Corporate Finance and Investor Relations, Mobile: +44 20 8133 0596, Email: Ingolf.gillesdal@briggsdrillingholdings.com
Briggs Drilling Holdings Limited | www.briggsdrillingholdings.com
Briggs Drilling Holdings Limited is a leading harsh environment drilling contractor for the offshore oil and gas industry. Briggs Drilling Holdings Limited owns a fleet of three high-technical standard 4[th] and 5[th] generation enhanced Aker H3 units, Borgland Dolphin, Blackford Dolphin, and Bideford Dolphin, operated by an experienced team with a strong operational track record. The company has offshore and onshore employees, and onshore locations in Norway, England, Brazil, Nigeria, and Mexico.