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AWLCF - Awilco Finds A Job For Its Only Active Rig
Awilco Drilling plc
WilPhoenix
Offshore Energy Today recently reported that Awilco Drilling (AWLCF) has signed a letter of intent ((LOI)) for its WilPhoenix semi-sub rig. The rig should participate in a three-well plug & abandonment program which starts in early May 2020. The estimated duration of the job is 100 days, while the contract value is estimated at $13.8 million. Thus, the dayrate is $138,000.
The company warned that there were no near-term jobs for WilPhoenix when it reported its third-quarter results. Since the work for WilPhoenix begins in May, Awilco will have no revenues