“Pool” drilling rigs: revised classification

05/06/2019

After negative repercussion in the market, Petrobras reviewed the result of the classification of the tender destined to the charter of one or more rigs for operation in 2 thousand m of water depth. The bidding committee released a review qualifying all the units offered in the tender and placing Constellation’s Alpha Star semi-submersible first with a daily fee of $ 136,000 (non-mobilized value).

In the first classification, six rigs occupied the first place. The review also included the inclusion of two Petroserv rigs – the Carolina drillship and the semi-submersible Victoria – which were offered in the tender, but were left out of the first ranking list.

With the move, the semi-submersible Gold Star and Constelattion’s Amaralina Star drillship began to occupy second place and third places, with daily rates of US $ 139 thousand and US $ 160 thousand, respectively. The fourth place was Ocyan’s Norbe VI, which offered a daily rate of $ 166,000, followed by Lone Star (Constellation) and Catarina, Petroserv (Ventura), in fifth and sixth place, with US proposals $ 173,000 / day and $ 194,000 / day, respectively.

Constellation’s Laguna Star drillship fell from second to seventh, followed by Seadrill’s West Tellus in eighth place. Carolina and Victoria (Petroserv) were ranked ninth and tenth in front of Deepwater Athena( Transocean / Ocean Rig), Noble Danny Adkins and Noble Jim Day, both from Noble.

The daily rates offered for these units remained at the level of US $ 200 thousand, with some closer to the ceiling of US $ 300 thousand / day. The exception was Noble’s bid for Noble Jim Day, priced at $ 415,000 / day.

Petrobras also released a second statement to the participants requesting an extension of the validity of the proposals. The tender notice required an offer valid until May 5.

Given the configuration of the initial classification, the market speculates that Petrobras could charter five to six rigs in the process.

The chartered units will have to be ready for operation in September. The notice provides for the possibility of two distinct deadlines for the charter contract: one of one year, with possibility of renewal for the same period, and another of two years.

Soon, Petrobras will begin to call the participating companies to negotiate, obeying the order of classification. As some rigs are being offered in other oil company bids and there are units already contracted in the market, there is no way to predict the outcome of the process.

Source: Brazil Energy Magazine

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