Maersk Drilling gets Extension for Jack-Up

Maersk Drilling, is a unit in shipping and oil conglomerate A.P. Moller-Maersk.

Hess has exercised the four one-well options included in the current contract for the jack-up rig Maersk Resolute. Each of the four additional wells has an estimated duration of around 90 days implying an extension of the current contract by around 1 year. The current seven firm wells programme is expected to end by April 2015. With the exercising of the four one-well options, the rig will be employed until April 2016. The estimated value of the extension is around $75 million.

Reporting by Ole Mikkelsen