News

A Year End Reunion

December 24th, 2019

October 2014 was the last time we saw both the EDrill-1 and EDrill-2 alongside each other at COSCO Guangzhou yard. Fast track 5 years later in the last quarter of 2019, we welcome them at POE Marine yard in Singapore. Both rigs with their crew led by rig managers, Dave Sandall and Graeme Bain, faced challenges at start but with resolve, dedication and support, have achieved many firsts and commendable milestones that we can all be proud of.

During their short stay in Singapore, both rigs undergo planned preventive maintenance and re-certification in preparation for their new contracts in 2020. EDrill-1 will start on a new 4 year contract with PTTEP in Thailand and EDrill-2 will start on a new contract with Medco Energi in the Natuna Seas, Indonesia, with a startup date in March 2020.

 


Rig EDrill-1 arrives alongside her sister rig, EDrill-2, at POE Marine yard, Singapore

 

EDrill-1 chartered for Arthit Asset Drilling Campaign

December 09th, 2019

Energy Drilling has been awarded a contract by PTT Exploration & Production International (PTTEP) on the 4th December 2019 to provide drilling services on the Arthit field in Gulf of Thailand. This contract secures employment for the high specification tender rig EDrill-1, for a firm term of 3 years and 4 months with an option period of 7 months.

The Arthit field is located 230km offshore of Thailand’s Songkhla province in the Gulf of Thailand. The field lies at a water depth of 262ft (80m) and commenced production in 2008.

EDrill-1 has worked continuously for PTTEP on the neighbouring Bongkot field since its delivery in 2014 and has just successfully completed a 5 year drilling programme in December 2019. Commencement on the Arthit field will take place in June 2020 and prior to this the rig will undergo regular maintenance work in Singapore.

The crew of EDrill-1, under the leadership of rig manager, Dave Sandall are looking forward to returning to Thailand and PTTEP.

Marcus Chew, CEO of Energy Drilling, commented that, “We are pleased to extend and cement our relationship with premium client PTTEP. This award clearly demonstrates our operational excellence in the Gulf of Thailand as a premium provider of tender assist drilling.”

 


EDrill-1 in the Gulf of Thailand, making history since 2014



OIM Dave W. with PTTEP Co. Man K. Nuttapol and Dave S., Rig Manager after rigging down at last platform

 

Site Visit by Board Members

November 28th, 2019

EDrill-2 had the pleasure of hosting Energy Drilling's Chairman, Oscar Spieler, and board members at POE Marine Yard, Singapore, just recently.

Whilst in the yard, rig EDrill-2's accommodation and equipment on both tender and DES undergo routine care and maintenance after a successful campaign offshore Malaysia with EnQuest. Onsite, they were given a tour by Materials Manager, Jimmy Wong, & Technical Manager, Jason Tan, and were briefed on the detailed work plan carried out by the maintenance team.

They left the yard impressed with the commitment and dedication at getting EDrill-2 hot and ready for her next challenge.

 


Marcus Chew, CEO Energy Drilling, 3rd from right, together with Jimmy Wong & Ryan K., 1st and 2nd from left respectively, hosted our VIP visitors, Alf Thorkildsen, 3rd from left, Oscar Spieler, 4th from left. Seen here too is Gøran Andreassen, 2nd from right & Kjell Jacobsen, 1st from right.

 

First Contract for Energy Drilling in Malaysia

May 15th, 2019

Energy Drilling has received a Letter of Award on the 15th May 2019 from EnQuest PLC to perform drilling services on their Seligi Field offshore Peninsula Malaysia with the TAD EDrill-2. The contract calls for two firm wells plus two option wells. EDrill-2 is currently in Kim Heng Shipyard, Singapore and preparations are underway to mobilise the rig in early July.

“The award by EnQuest marks our first entry into Malaysia since the founding of the company. We are very pleased that EnQuest has chosen Energy Drilling against stiff competition from other providers of tender assist rigs.” says Marcus Chew, CEO of Energy Drilling.

EDrill-2 has worked continuously for PTTEPI, Myanmar on the Zawtika Field since its delivery in December 2015. It has performed very well in the challenging weather conditions offshore Myanmar, especially during the monsoon seasons. The crew of EDrill-2, under the leadership of rig manager, Graeme Bain are looking forward to the new challenges in Malaysia.


A little over a month ago, EDrill-2 preparing to berth in Singapore

Photos taken by Justin Tan of Kim Heng Yard

 

Atlantica Tender Drilling and Energy Drilling seeks merger to catalyst growth

April 04th, 2019

 


Atlantica Tender Drilling Ltd. (“Atlantica”) and Energy Drilling Pte. Ltd. (“Energy Drilling”) have today signed a Letter Of Intent to merge the two companies. The contemplated transaction will create a stronger company with improved capabilities and geographical presence, a starting point for further growth and consolidation in the drilling industry.

Atlantica is a leading owner and operator of semi-submersible tender drilling rigs operating in the Atlantic Ocean. Energy Drilling is a leading owner and operator of barge tender drilling rigs operating offshore South-East Asia and has a newbuild semi-submersible tender drilling rig ready for delivery.

The combined company will be the second largest tender drilling contractor, with five rigs representing 17% of the tender drilling market. The fleet will be the most modern among competitors, with an average age of 5 years. Operations are backed by solid backlog against Petrobras and Total and a strong track record operating for Thai national oil company PTTEP. For the year ended 2018, the combined company had revenues of USD 211 million and an EBITDA of USD 114 million.

 “This merger represents the starting point for an attractive growth strategy targeting to consolidate and expand in the drilling industry. Atlantica and Energy Drilling has the right assets, backlog and balance sheet to be a forward leaning M&A partner in the industry”, says Kerry Kunz, CEO of Atlantica.

“The two companies have performed drilling operations in multiple geographical locations for top clients such as Petrobras, Total and PTTEP. Our goal is to grow our combined company to provide our clients with cost effective, productive and safe drilling operations”, says Marcus Chew, CEO of Energy Drilling.

An implementation committee with representatives from both companies will commence the detailed planning and structuring of the contemplated transaction as well as conclude management structure and operational presence going forward.

When all conditions in the Letter Of Intent are met, including refinancing of existing credit facilities, satisfactory due diligence and shareholder approvals, the transaction is expected to be completed early third quarter 2019.

The contemplated transaction is unanimously supported and recommended by the board of directors of the two companies. The contemplated transaction has also received support from the majority of shareholders in Atlantica and Energy Drilling.

For further questions, please contact:
Marcus Chew (+65 62228368)
Kerry Kunz (+ 1 832-494-2200)


IMPORTANT INFORMATION

This news release contains certain forward-looking statements that are based on uncertainty, as they relate to events and depend on circumstances that will occur in the future and which, by their nature, may have an impact on results of operations and the financial condition of Atlantica or Energy Drilling. Such forward-looking statements reflect our current expectations and are based on the information currently available. Atlantica or Energy Drilling cannot give any assurance as to whether such forward-looking statements will prove to be correct. These forward-looking statements include statements regarding the contemplated transaction. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

This news release does not constitute an offer to buy or exchange, or the solicitation of an offer to sell or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The distribution of this announcement and other information in connection with the contemplated merger may be restricted by law in certain jurisdictions. Atlantica and Energy Drilling assume no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

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