Lundin extends contract for Ocean Rig semi-sub

first_imgOil company Lundin Norway has declared its third option to extend the existing contract of the Ocean Rig-owned semi-submersible rig, Leiv Eiriksson. In addition, Ocean Rig has granted Lundin two additional options to drill further wells in the future, the driller said on Monday.As a result of these developments, the rig now has firm employment until at least the end of September of 2017 and should Lundin exercise its additional seven one-well options, currently un-declared, the rig could be employed until the first quarter of 2019, the rig owner noted.The total expected revenue backlog, including all the optional wells, is expected to be $85 million.George Economou, Chairman and CEO of Ocean Rig, commented: “We are grateful for the support of our major customer in Norway and subject to the successful restructuring look forward to extending this relationship in the long-term.”To remind, the driller at the end of March filed for Chapter 15 bankruptcy protection in a United States court amid a prolonged downturn in the offshore drilling market.Earlier on Monday, Lundin was granted a drilling permit for another Alta appraisal well to be drilled with the Leiv Eiriksson rig.The 2001-built semi-sub has been working for Lundin offshore Norway since last year. Before the contract started, the rig prepared for Barents Sea operations at Westcon Yards in Ølen, Norway.Offshore Energy Today Stafflast_img read more

Big Ten powerhouses try to put losses behind them

first_imgJAY LAPRETE/Associated PressThe Big Ten’s hope of placing a team in the national championship game took a huge hit when the conference’s top three teams, Ohio State, Michigan and Iowa, all lost this past Saturday.While some college football analysts and writers have already written off the Big Ten, most coaches have yet to hit the panic button.”I don’t think any team is out of anything unless you have two losses,” Michigan head coach Lloyd Carr said.Wisconsin’s Barry Alvarez isn’t worried about the Big Ten yet either.”It’s very, very early to make those kinds of statements,” he said. “The voters recognize the best teams at the end of the year.”It will be a tough road for any of those three teams to make it to the championship game, judging from last year, when Auburn finished undefeated and was left out of the Orange Bowl. Furthermore, all three teams will also have to face each other before the end of the season.Iowa head coach Kirk Ferentz doesn’t like to talk about the BCS at any point of the season, but especially not this early.”I never worry about the BCS and I hope our players don’t either,” Ferentz said.Many of the Big Ten coaches echoed Ferentz’s comments, saying they let other people worry about the race for the National Championship and simply concentrate on winning the games in front of them.”There’s a lot more people outside of this building that talk about it than inside our building,” Ohio State head coach Jim Tressel said. “Right now you can’t worry about what will go on at the end of the year.”Big Ten elite look to bounce back: Last weekend’s losses have left Ohio State, Michigan, and Iowa in the unfamiliar position of having to recover from an early season loss.”You win, you lose, you still have to move on to your next opponent,” Ferentz said. “The worst thing you can do is let the loss carry over to the next game.”Carr said the key is to forget about last week’s game.”The most important thing is to stay focused and be ready to play,” Carr said. “You can’t sit around and feel sorry for yourself because no one else will.”Tressel said his team simply needs to get back to winning games, but with the structure of the college football season, needs to do so quickly.”This isn’t baseball,” Tressel said. “We only get a certain amount of opportunities.”Wildcats claim two Big Ten honors: The Northwestern Wildcats, off to a 2-0 start this season, claimed the offensive and co-special teams players of the week after defeating Northern Illinois last weekend.True freshman running back Tyrell Sutton was named offensive player of the week after rushing for 214 yards and four touchdowns, including the game-winning score.Junior defensive back Marquice Cole earned co-special teams honors after returning two punts for 101 yards, including an 81-yard touchdown scamper.Ohio State linebacker A.J. Hawk was named defensive player of the week for his work in the Buckeyes’ loss to No. 2 Texas. Hawk had 12 tackles, two sacks, an interception, a forced fumble and a fumble recovery.Wisconsin senior wide receiver Brandon Williams shared the co-special teams honors with Cole following the Badgers’ 65-0 blowout win over Temple. Williams returned one kickoff for 38 yards, and four punts for 105 yards, including a 66-yard touchdown.last_img read more