RigNet Signs Long-Term Agreement with Northern Offshore
February 10 2020 - 8:05AM
RigNet (NASDAQ: RNET, the “Company”), the leading provider of
ultra-secure, intelligent networking solutions, announced today
that it has signed a long-term agreement with Northern Offshore, a
global offshore drilling company, to provide various services to
their fleet of rigs in the Middle East. Under this agreement,
RigNet will provide several solutions including VSAT Managed
Communications Services, CrewFlix Video on Demand, CrewHotspot
internet, and Enhanced Cyber Services (ECS).
“RigNet has demonstrated their ability to meet our expectations
of rapid deployment and alignment with Northern Offshore’s plans,”
said Tony Beebe, SVP Project Management & Engineering. “We
expect these solutions and technologies will allow us to optimize
our operations for greater efficiency and increased financial
performance.”
RigNet is providing an advanced VSAT solution with voice and
high-speed data communications as well as 24/7 remote network
monitoring and technical support. This will be combined with
RigNet’s ECS offering, an improved data and system security
solution with real-time threat detection, as well as an advanced
conditional access system tailored for 3rd-party partners on
offshore rigs.
In addition, RigNet is also providing crew information and
entertainment services from its CrewConnect portfolio, including
CrewFlix, RigNet’s video-on-demand service and Crew Hotspot, a
dedicated crew internet access point. The CrewConnect portfolio
provides services for improved crew morale in remote locations,
enhancing operational efficiency through reduced employee turnover
and increased productivity.
“We are very pleased that Northern Offshore recognizes the value
of RigNet as we enable their success across these vessels in the
region,” said Steven Picket, President and Chief Executive Officer
of RigNet. “Our goal is to deliver comprehensive managed
communications services to meet the needs of customers like
Northern Offshore as they improve efficiency, productivity, and
safety while lowering overall cost.”
About RigNet, Inc.:
RigNet (NASDAQ: RNET) delivers advanced software and
communications infrastructure that allow our customers to realize
the business benefits of digital transformation. With world-class,
ultra-secure solutions spanning IP connectivity,
bandwidth-optimized OTT applications, IIoT big data enablement, and
industry-leading machine learning analytics, RigNet supports the
full evolution of digital enablement, empowering businesses to
respond faster to high priority issues, mitigate the risk of
operational disruption, and maximize their overall financial
performance. RigNet is headquartered in Houston, Texas with
operations around the world. For more information, please visit
http://www.rig.net.
Forward Looking Statements
This press release includes “forward-looking statements” within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995 – that is,
statements related to the future, not past, events. Forward-looking
statements are based on the current expectations and include any
statement that does not directly relate to a current or historical
fact. Our ability to deliver services, improve crew morale, provide
data security and detect threats, and enable our customer’s
efficiency and financial results are examples of forward looking
statements and contain words such as “anticipate,” “believe,”
“intend,”, “will”, “expect,” “plan” or other similar words. These
forward-looking statements involve certain risks and uncertainties,
including those risks set forth in Item 1A – Risk Factors of the
Company’s most recent 10-K filing, and ultimately may not prove to
be accurate. Actual results and future events could differ
materially from those anticipated in such statements. For further
discussion of risks and uncertainties, individuals should refer to
RigNet’s SEC filings. RigNet undertakes no obligation and does not
intend to update these forward-looking statements to reflect events
or circumstances occurring after this press release. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
All forward-looking statements are qualified in their entirety by
this cautionary statement.
Investor Relations Contact:Lee M. AhlstromSenior Vice President
and Chief Financial OfficerRigNet, Inc.Tel: +1 (281) 674-0699
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