A termination for convenience notice was received by Dolphin Drilling from Anadarko Petroleum Company, ending what was a four-year contract.
The contract for the drillship ‘Bolette Dolphin’ was on course to end in July 2018 but now the termination will come in to effect by the end of August 2017.
As directed by the contract, the termination fee will be approximately $96 million
Dolphin Drilling, a subsidiary of Fred. Olsen Energy had been operating the 2013-built drillship off the west coast of Africa.