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It’s 5 a.m. in the South Atlantic, Jim crawls out of bed, gets dressed and heads upstairs to chat before going on tour. Today is his daughters 16th birthday, so this day is like none other for his daughter. He is not there because he works rotational on a drilling rig offshore. Jim has been doing this for most of his life and his kids are used to him having to be away but still this doesn’t make it any easier when days like today come around.
Jim goes through out his day thinking about his family, the good, the bads and the hard to get overs and he knows that some of this time you can never get back but this is an industry where time off is given for time worked. He is putting in his time.
Before he left for his hitch he went with his wife and purchased his daughter her first car, a shiny black Nissan, the one that she had been picking out and looking at for months through magazines and rides through the car lots, but Jim won’t be there to see the gift given to her.
It’s 8 p.m. in Jim’s part of the world as he is settling down for the night, no disasters to have to manage and no mails left to send, he pulls his iPad from his locker.
You see for many people in the industry this is their life, this is what social media means to them, the ability to connect with people while you are away from home, so you can still be there for that moment.
Jim turns on the iPad and navigates over to Facebook to prepare for the delivery of the car to his daughter. He knows little about Facebook but he does know that his wife told him to be on Facebook at 9 his time as she would be coming in from school and she would open up the garage door as she was coming into the driveway and introduce her to her new vehicle.
As the clock ticks by Jim scrolls through the local news station from back home and catches up on all the tops stories that have happened while he was away, then he gets a notification that his wife is going live on Facebook.
He taps the notification and instantly he is in the driveway with his wife waiting for their daughter to come home, a few minutes pass by and his wife chats with everyone that is coming on the live stream, thanking them for being there to see their daughter get her new car.
As their daughter pulls into the driveway, Mom hides in the garage just next to the overhead door switch, she activates it as she hears the car door close. The door begins to raise, the sun starts to peak through and she can see her daughters shadow in front of the vehicle in the driveway, as Jim sits intently on the other side of a screen thousands of miles from home, he has the biggest smile on his face, one of the same magnitude as the day she was born.
The door stops in its final resting place and there is the car, with a bright red bow around it and there is their daughter standing in the driveway awestruck by what she is seeing, she instantly starts crying and says “I wish Dad was here to see thisâ€, as the live stream starts to pour in with thumbs up, smiley faces and hearts, her Dad says, “I am right here with youâ€.
This is what social media means for people that are away on rotational work, nothing is sweeter than giving that time back even over an iPad.
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Valaris Limited announced new contracts awarded subsequent to issuing the Company’s most recent fleet status report on February 21, 2023. Three-year contract with Petrobras for drillship VALARIS DS-8. The rig will be reactivated for this contract. The total contract value is approximately $500 million, including a $30 million mobilization fee. 100-day contract with a TotalEnergies affiliate for drillship VALARIS DS-12. The contract is expected to commence in second quarter 2023. 70-day contract with Beach Energy offshore New Zealand for heavy duty modern jackup VALARIS 107. The contract is expected to commence in third quarter 2023. The total contract value is approximately $26 million. President and Chief Executive Officer Anton Dibowitz said, “We are particularly pleased to have secured the award for preservation stacked drillship VALARIS DS-8, for a contract that is expected to generate a meaningful return over the firm contract term, and we remain focused on exercising our operational leverage in a disciplined manner. This most recent award represents the sixth contract awarded to one of our high-quality stacked floaters since mid-2021, and speaks volumes about our demonstrated track record of project execution when reactivating rigs.” Dibowitz added, “Following the reactivation of VALARIS DS-17 and DS-8, we will have ten floaters working across the golden triangle, including four drillships in Brazil, a market where we expect to see continued growth over the next several years.” Updated Guidance As a result of the contract awarded to VALARIS DS-8, which will require the rig to be reactivated from preservation stack, we are updating our first quarter 2023 and full-year 2023 guidance provided on our fourth quarter 2022 conference call on February 21, 2023. First Quarter 2023 Contract drilling expense is expected to increase by approximately $5 million to $385 million to $395 million. Adjusted EBITDA is expected to decrease by approximately $5 million to negative $5 million to breakeven. Adjusted EBITDAR, which adds back one-time reactivation expense, is expected to be $25 million to $30 million, unchanged from the guidance provided on our fourth quarter 2022 conference call. Full-Year 2023 Revenues are anticipated to be $1.8 billion to $1.9 billion, unchanged from the guidance provided on our fourth quarter 2022 conference call. Contract drilling expense is expected to increase by approximately $60 million to $1.49 billion to $1.59 billion. Adjusted EBITDA is expected to decrease by approximately $60 million to $180 million to $220 million. Adjusted EBITDAR, which adds back one-time reactivation expense, is expected to be $280 million to $320 million, unchanged from the guidance provided on our fourth quarter 2022 conference call. Capital expenditures are expected to increase by $60 million to $320 million to $360 million. Source: Valaris Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here
Seadrill Limited announced that the West Neptune has executed approximately six months of term extensions with LLOG Exploration Offshore, L.L.C in the US Gulf of Mexico. The extensions will commence in direct continuation of the existing term, and will keep the rig busy until Q3 2024, furthering Seadrill and LLOG’s long-term association. Total contract value for the extension is approximately $79 million. Source: Seadrill Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here
Semisub rig owner Dolphin Drilling has inked a new contract with Peak Petroleum in Nigeria for its 1974-built Blackford Dolphin. The firm contract, which follows the letter of award in January, gives the Euronext Growth-listed owner of three rigs the potential to extend the unit’s backlog by a minimum of 120 days and up to 485 days. The deal adds to and will be a direct continuation of the previously announced 12-month contract with General Hydrocarbon Limited (GHL). Øystein Stray Spetalen-backed company said the effective dayrate associated with the minimum firm period of the contract is $325,000, including the mobilisation fee. “The final award of the contract for Blackford Dolphin shows the opportunities in Nigeria at a strong dayrate, in addition to building on the backlog for the rig. It also underlines the attractiveness of our assets, and we look forward to returning to revenue-generating operations in 2023,” noted Bjørnar Iversen, CEO of Dolphin Drilling. Source: Dolphin Join our mailing list here We are #1 on Google and Bing for the "Largest Mobile Energy Network" Come join our community! Download the Rig Lynx app here
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