HOUSTON, Nov. 27, 2014 /PRNewswire/
-- Northern Offshore, Ltd. (Oslo Bors: NOF.OL) today
issued an update to its July 30, 2014
announcement of a 2 1/2 year contract with Rosneft for its
jackup drilling unit Energy Endeavor. In conjunction with partners
North Atlantic Drilling and Seadrill, Northern has agreed to delay
the transaction until the end of May
2015. While Northern and partners remain committed to the
transaction, Northern will market the Endeavor to other clients
following its current contract in the
Netherlands, subject to availability in the event the
transaction is not finally consummated.
About the Company
Northern Offshore, Ltd. is a Bermuda holding company which operates
offshore oil and gas drilling units and one production vessel in
various markets around the world, including the North Sea, the
Indian Ocean, Southeast Asia and
West Africa. The Company's fleet
consists of four drilling units (a drillship, a semisubmersible and
two jackup drilling rigs) and one floating production
facility. Additionally, the Company has under construction
two 350' high specification jackup drilling rigs, with delivery
expected in the first and third quarters of 2016. More
information on Northern Offshore, Ltd. may be found by visiting the
Company's website at http://www.northernoffshorelimited.com.
For further information, please contact:
Paul Ravesies at (713) 739-7686,
or via email at paul.ravesies@northernoffshoreltd.com
This announcement contains statements that reflect the Company's
expectations or predictions of the future. These statements are
forward-looking statements. These forward-looking statements
may include statements regarding earnings guidance, capital
allocation strategy, the impact of activity levels, business
performance, and other market and industry conditions. The
Company's actual results could differ materially from those
reflected in such forward-looking statements. Additional
information concerning factors that could cause actual results to
differ materially from those in the forward-looking statements is
contained from time to time in the Company's regulatory
filings. The Company disclaims any intention or obligation to
revise any forward-looking statements, including financial
estimates, whether as a result of new information, future events or
otherwise.
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SOURCE Northern Offshore, Ltd.