Offshore drilling contractor Awilco Drilling has said that the first steel has been cut for its second rig under construction at a Keppel yard while the construction on the first rig is going as planned with delivery scheduled for March 2021.
Awilco owns and operates two 3rd generation mid-water semi-submersible drilling rigs, WilPhoenix and WilHunter.
In 3Q 2019, the WilPhoenix was in continued operations for Shell at the Heron location. Revenue efficiency for the quarter was 96.2%. Contract utilization was 100%. At the end of September, WilPhoenix had a total remaining contract backlog of approximately $7 million.
During 3Q 2019, the WilHunter was cold stacked in Invergordon where it has been since 2016.
The company has on order two newbuild rigs of Moss CS60 ECO MW design equipped for drilling in harsh environments, including the Barents Sea. The first rig was ordered in March 2018 and the second one a year later, in March 2019. Both rigs are being built by Keppel FELS.
Awilco said in its 3Q 2019 report on Tuesday that construction continued on Rig #1 in accordance with the contract and scheduled delivery in March 2021.
The company also informed that the first steel for Rig #2 was cut during 3Q 2019 and scheduled delivery is in March 2022.
Remaining capital commitments in respect of the two newbuild rigs total $766.9 million.