NADL - North Atlantic Drilling Receives Notice of Early Contract Cancellation for the West Epsilon
September 27 2016 - 1:15AM
Hamilton, Bermuda, September 27, 2016 - North
Atlantic Drilling Limited ("North Atlantic" or the "Company") has
received a notice of cancellation from Statoil Petroleum AS related
to the contract for the West Epsilon. The West Epsilon was
originally contracted for drilling services in Norway until the end
of December 2016 and the early cancellation will be effective upon
concluding its current activities in mid-October. In accordance
with the contract the Company will receive a lump sum payment of
approximately $11 million. The West Epsilon is currently being
marketed for new employment.
This information is subject
of the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: North Atlantic Drilling Ltd. via
Globenewswire
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