Mon Apr 6, 2015 7:22pm EDT
Petrobras to halt 5 drill rigs under contract with Schahin -filing
SAO PAULO, APRIL 6
(Reuters) – Brazil’s state-run oil company Petroleo Brasileiro SA said on Monday it would halt five drilling rigs under contract with Schahin.
Petrobras, as the company is known, said it was informed by Schahin on April 2 that the financially strapped oil services company was planning a controlled shutdown of drilling activities at five of its rigs.
Schahin debt has come under pressure after unconfirmed media reports said the company was close to filing for bankruptcy protection and that it was being sued by its creditors for unpaid notes. (Reporting by Reese Ewing and Marta Nogueira; Editing by Ken Wills)