Exxon extends contract for drill ships costing about US$420,000 each to rent daily

announced that ExxonMobil “Our first quarter results reflect a strong Guyana has extended their contract for the start to the year from an operational, rentaloffouroftheirdrillships atanaverage financial, and commercial perspective. The day rate of about US$420,000 (GYD$84 steady tightening of offshore drilling million)foreach. fundamentals is affording attractive

The company had explained that market- opportunities to place our fleet into based day rates are resent twice per year improving contracts. We are particularly (March 1, and September 1) to the projected excitedtobeawardedasignificantadditional marketrateatthattime. backlog commitment from ExxonMobil

During the fourth quarter of 2022, Noble Guyana under the CEA, and also to had announced that Exxon awarded an participate in the reemergence of Colombia additional 7.4 rig years for the rental of drill asanactiveexplorationbasinwithtwoofour ships: Noble Sam Croft, Noble Don Taylor, deepwaterrigs,”Eiflersaid. NobleTomMadden,andNobleBobDouglas He continued: “Integration of our to work in Guyana until November 2025 in business combination continues to progress theprolificStabroekBlock. smoothly thanks to the outstanding and

On Thursday, the company’s President tirelesseffortsofourfantasticoffshorecrews and Chief Executive Officer (CEO) Robert and global shore-based team. With our W. Eifler, was quoted as being excited to refinancing successfully completed, Noble announcetheawardof“significantadditional has a streamlined and efficient capital backlog” from ExxonMobil Guyana under structure that will further enhance our ability their Commercial Enabling Agreement to focus on our priorities, including returning (CEA). capitaltoshareholders.”

The announcement was made in the Moreover, owing to the 2016 Production company quarterly results disclosing that Sharing Agreement (PSA), Guyana signed Exxonhasawardedanadditional6.3rigyears with Exxon – all of the company’s expense of backlog for the four drill ships operating will be recovered. Under the deal, Exxon undertheCEA. receives profits after 75 percent is withdrawn

With the new extension by ExxonMobil to cover operational expenses. As such, for Guyana, drill ships Noble Sam Croft, Noble every day the four drill ships work, Guyana Don Taylor, Noble Tom Madden, and Noble willhavetofootthebill.