New Contract signed for Blackford Dolphin in Nigeria

(Oslo, 9 March 2023) Dolphin Drilling AS (Dolphin Drilling, OSE: DDRIL) today announces that it has signed a new contract for Blackford Dolphin with Peak Petroleum Industries Nigeria Limited (Peak Petroleum) in Nigeria.

Blackford Dolphin has signed a contract with Peak Petroleum for additional work in Nigeria in direct continuation of the previously announced 12-month contract with General Hydrocarbons Limited (GHL). As reported in January 2023, Dolphin Drilling secured a Letter of Award (LOA) for the rig.

The new contract has the potential to extend the backlog by a minimum of 120 and up to 485 days, in addition to the existing GHL backlog. The effective dayrate associated with the minimum firm period of the contract is USD 325,000, including the mobilization 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,” says Bjørnar Iversen, CEO of Dolphin Drilling.

ENDS

For further information, please contact:

Ingolf Gillesdal, Corporate Finance and Investor Relations, tel: +47 920 45 320

Dolphin Drilling | www.dolphindrilling.com
Dolphin Drilling is a leading harsh environment drilling contractor for the offshore oil and gas industry. Dolphin Drilling owns a fleet of three high-technical standard 4th and 5th generation enhanced Aker H3 units, Borgland Dolphin, Blackford Dolphin, and Bideford Dolphin, operated by an experienced team with a strong operational track record. The company has offshore and onshore offices and operations in Norway, Scotland, Brazil, Nigeria, and Mexico.