Diamond Offshore Drilling Inc, one of the world’s top-five offshore rig contractors, said contracts for two rigs with Brazil’s Petrobras had ended ahead of schedule.
The company said it had secured an 875-day extension on another rig working for the Brazilian oil and gas producer in exchange for the terminations.
Diamond, which also reported a better-than-expected quarterly profit on Monday, said the extension of term will add $333 million to the company’s revenue backlog.
The terminated contracts will reduce revenue backlog by about $91 million, the company said. While one of the rigs terminated will be cold-stacked, the other will be scrapped.
Brazil Energy Insight 
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