Odfjell Drilling (ODL)

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ODL – Wintershall Dea exercises options on the Brage platform for platform drilling services

Reference is made to the announcement of 13 December 2016 whereby Wintershall Dea Norge AS (“Wintershall Dea”) awarded Odfjell Drilling a 4+2+2 year platform drilling services contract on the Brage platform on the Norwegian Continental Shelf.

Please be advised that Wintershall Dea now has exercised both options, meaning that the contract has been extended by 4 years with effect from mid-December 2020.
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“We once again appreciate the recognition given by Wintershall Dea and its partners by awarding us a long term extension on the Brage platform. Odfjell Drilling is committed to deliver safe and quality operations, and we look forward to continue the strong collaboration with Wintershall Dea in the years to come”, says Simen Lieungh, CEO Odfjell Drilling AS.

For further queries, please contact:
Lynne Webster, Corporate Secretary
+44 (0)7796 547889
lweb@odfjelldrilling.com

Aberdeen, United Kingdom
18 December 2020
Odfjell Drilling Ltd.

Kilde

[TekBot]

ODL – More work for Deepsea Yantai

Odfjell Drilling and CIMC Raffles are pleased to announce that Neptune Energy Norge has extended the contract for the Deepsea Yantai with an additional 2 wells securing that the rig is fully occupied through 2021. The extension is made so that the rig can conduct further work in the Dugong area where Neptune Energy successfully drilled a well with the rig during summer 2020. Neptune has, in addition, the option to exercise a further 8 wells under the current contract.

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For further queries, please contact:
Lynne Webster, Corporate Secretary
+44 (0)7796 547889
lweb@odfjelldrilling.com

Aberdeen, United Kingdom
7 January 2021
Odfjell Drilling Ltd.

Kilde

[TekBot]

ODL – New well for Deepsea Atlantic

Reference is made to the press release of 18 December 2020 whereby Equinor exercised 2 new wells under the Master Frame Agreement.

Please be advised that Equinor has now exercised one additional well for Deepsea Atlantic. The well has been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement. The work shall commence after the completion of the current scope estimated to be in Q2 2021. The commercial terms are materially the same as for the recently announced Johan Sverdrup Phase 2 contract award.
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For further queries, please contact:
Lynne Webster, Corporate Secretary
+44 (0)7796 547889
lweb@odfjelldrilling.com

Aberdeen, United Kingdom
18 January 2021
Odfjell Drilling Ltd.

Kilde

[Bvo]

ABG Sundal Collier snakker om dommedag og dobler kursmålet

Nok en oppjustering av kursmål og kjøpsanbefaling… begynner å bli mange av disse nå. Denne kommer til å gå som en rekyl når markedet innser at det forsatt skal bores etter olje i mange, mange år enda. Og da er ODL en foretrukket leverandør av boretjenester, både her til lands og ellers ute i verden.

[TekBot]

ODL – Lundin awards letter of intent to Deepsea Stavanger

Lundin Energy Norway and Odfjell Drilling have signed a letter of intent for the use of Deepsea Stavanger. The letter of intent is subject to finalization of contract and final approvals from involved parties. The contract is set to commence in Q3 2021 with a duration of one (1) firm well plus eight (8) optional wells.

The firm contract scope has an estimated contract value of approximate USD 11-14 million plus incentives. The contract is set to commence in Q3 2021, back-to-back with Deepsea Stavanger’s upcoming five well contract with Aker BP.
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“We are very pleased to continue to add backlog to our fleet and this letter of intent from Lundin Energy Norway again confirms our strong position in the harsh environment market. We are confident that Deepsea Stavanger will meet the high expectations set by Lundin Energy Norway and its partners” says CEO of Odfjell Drilling AS, Simen Lieungh.

For further queries, please contact:
Lynne Webster, Corporate Secretary
+44 (0)7796 547889
lweb@odfjelldrilling.com

Aberdeen, United Kingdom
25 January 2021
Odfjell Drilling Ltd.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

Odfjell Drilling Ltd. – Q4 2020 earnings announcement date and conference call details

In connection with the Q4 2020 earnings announcement on Thursday 25 February 2021, Odfjell Drilling Ltd. will host an investor conference call on the same day at 15:00hrs CET.

There will be a Q&A session subsequent to the management presentation.
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Information on how to submit questions to management will be given at the beginning of the Q&A session.

Please join the event 5-10 minutes prior to scheduled start time. When prompted, provide the confirmation code.

Belgium, Brussels +32 (0)2 404 0659
Finland, Helsinki +358 (0)9 7479 0361
France, Paris +33 (0)1 70 72 25 50
Germany, Frankfurt +49 (0)69 2222 25574
Italy, Milan +39 02 3600 8019
Netherlands, Amsterdam +31 (0) 20 703 8211
Norway, Oslo +47 2100 2610
Spain, Madrid +34 91 419 2307
Sweden, Stockholm +46 (0)8 5664 2753
United Kingdom, Local +44 (0)330 336 9126
United States, Brooklyn +1 929-477-0402

The participant passcode is: 7083686

Participants will be asked for name and company.

For further queries, please contact:
Lynne Webster, Corporate Secretary
+44 (0)7796 547889
lweb@odfjelldrilling.com

Aberdeen, United Kingdom
18 February 2021
Odfjell Drilling Ltd.

Kilde

[TekBot]

Odfjell Drilling Ltd. reports for the fourth quarter of 2020

• Operating revenue of USD 355 million
• EBITDA of USD 171 million
• EBIT of USD 127 million
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• Net profit of USD 108 million

Please see the attached report for the fourth quarter of 2020.
For further queries, please contact:
Lynne Webster, Corporate Secretary
+44 (0)7796 547889
lweb@odfjelldrilling.com

Aberdeen, United Kingdom
25 February 2021
Odfjell Drilling Ltd.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

Odfjell Drilling Ltd. - Presentation in today’s Investor Conference Call

Please find attached the Q4 2020 Presentation which will be used as a basis for today’s investor conference call at 15.00hrs CET.

There will be a Q&A session subsequent to the management presentation. Information on how to submit questions to management will be given at the beginning of the Q&A session.
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Please dial in 5-10 minutes prior to the start time using any of the numbers and the confirmation
code below:

Belgium, Brussels +32 (0)2 404 0659
Finland, Helsinki +358 (0)9 7479 0361
France, Paris +33 (0)1 70 72 25 50
Germany, Frankfurt +49 (0)69 2222 25574
Italy, Milan +39 02 3600 8019
Netherlands, Amsterdam +31 (0) 20 703 8211
Norway, Oslo +47 2100 2610
Spain, Madrid +34 91 419 2307
Sweden, Stockholm +46 (0)8 5664 2753
United Kingdom, Local +44 (0)330 336 9126
United States, Brooklyn +1 929-477-0402

The Odfjell Drilling confirmation code is: 7083686

Participants will be asked for name, company and confirmation code.

Kilde

[TekBot]

ODL – Odfjell Drilling signs Contract with Lundin Energy Norway

Reference is made to the stock exchange notice of 25 January 2021 in which Odfjell Drilling Ltd announced the award of letters of intent with Lundin Energy Norway for the use of Deepsea Stavanger. Final contract for the drilling campaign has now been signed. The duration of the contract is changed to three (3) firm wells plus six (6) optional wells. The firm scope has a contractual value of approx USD 33 million. Otherwise the contract is signed on such conditions as disclosed in aforementioned stock exchange notice.

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For further queries, please contact:
Lynne Webster, Corporate Secretary
+44 (0)7796 547889
lweb@odfjelldrilling.com

Aberdeen, United Kingdom
2 March 2021
Odfjell Drilling Ltd.

Kilde

[TekBot]

ODL - Deepsea Atlantic receives more work from Equinor

Equinor has exercised one new well for Deepsea Atlantic. The well has been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement. The work shall commence after the completion of the current scope estimated to be in Q2/Q3 2021. The commercial terms are materially the same as for the recently announced Johan Sverdrup Phase 2 contract award.

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For further queries, please contact:
Lynne Webster, Corporate Secretary
+44 (0)7796 547889
lweb@odfjelldrilling.com

Aberdeen, United Kingdom
17 March 2021
Odfjell Drilling Ltd.

Kilde

[TekBot]

ODL - Odfjell Platform Drilling and Maintenance Contract Award

TAQA in the UK has awarded Odfjell Drilling (UK) Limited (“Odfjell Drilling”) a five-year contract for the provision of Platform Drilling & Maintenance Services on its North Sea installations including North Cormorant, Harding, Tern Alpha, Brae Alpha and East Brae.

Odfjell Drilling is the incumbent Platform Drilling & Maintenance Services contractor for three of these installations under a contract awarded in 2017 and this new agreement will replace the existing contract, with the addition of Brae Alpha and East Brae. The new contract will be effective from June 15th 2021.
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“Odfjell Drilling is committed to delivering safe and quality operations, and we look forward to continuing to work together with TAQA in the years to come”, says Odfjell Drilling’s EVP Elisabeth Haram.

For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0)7796 547889
gbas@odfjelldrilling.com

Aberdeen, United Kingdom
19 March 2021
Odfjell Drilling Ltd.

Kilde

[TekBot]

ODL – Aker BP exercises fourth year for Deepsea Nordkapp

Aker BP has exercised the second 12 month option for Deepsea Nordkapp under the Contract entered into between the parties in April 2018. The second 12 month option shall commence after expiry of the first optional period in June 2022.

The approximate contract value for the exercised optional scope is USD 109 million (excluding any integrated services). In addition, a performance bonus will be applicable.
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An additional scope based option period has been agreed which, if exercised shall follow completion of the firm period and have a duration of up to 12 months.

Simen Lieungh, CEO Odfjell Drilling AS, says: “We are very pleased to see Aker BP’s continued commitment to the Alliance Agreement between the parties. The Alliance has delivered exceptional performance on Deepsea Nordkapp and we see this extension a recognition of those good results. With the addition of a further option period we look forward to continuing the Alliance into the future. ”

For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0)7796 547889
gbas@odfjelldrilling.com

Aberdeen, United Kingdom
22 March 2021
Odfjell Drilling Ltd.

Kilde

[TekBot]

ODL - One more well to Deepsea Atlantic

Further to our press release on 17 March 2021 regarding more work for Deepsea Atlantic, please be advised that Equinor has exercised one additional well to the rig. The well has been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement. The work shall commence after the completion of the current scope estimated to be in Q3 2021. The commercial terms are materially the same as for the recently announced Johan Sverdrup Phase 2 contract award.

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Vis børsmeldingen

For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0)7796 547889
gbas@odfjelldrilling.com

Aberdeen, United Kingdom
22 March 2021
Odfjell Drilling Ltd.

Kilde

[TekBot]

ODL - Board approval of the 2020 annual financial statements

On 21 April 2021, the Board of Directors of Odfjell Drilling Ltd. approved the 2020 annual financial statements. The statements are in accordance with the preliminary results for 2020 published on 27 February 2020.

An electronic version of the 2020 annual report will be made available within 29 April 2021. The Sustainability Report will also be made available at the same time.
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The annual general meeting of Odfjell Drilling Ltd. will be held on 23 June 2021.

For further information, please contact:

Gillian Basson, Corporate Secretary
e-mail: gbas@odfjelldrilling.com
Mobile: +44 7796 547889

Aberdeen, United Kingdom
21 April 2021
Odfjell Drilling Ltd.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

ODL - Annual Report 2020

Attached is Odfjell Drilling Ltd.’s annual report for 2020. The report is also available on the company’s webpage: www.odfjelldrilling.com

For further information, please contact:
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Gillian Basson, Corporate Secretary
e-mail: gbas@odfjelldrilling.com
Mobile: +44 7796 547889

Aberdeen, United Kingdom
29 April 2021
Odfjell Drilling Ltd.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

ODL - Sustainability Report & GRI Index

Attached is Odfjell Drilling Ltd.’s sustainability report for 2020 and GRI reference index. The report and index are also available on the company’s webpage: www.odfjelldrilling.com

For further information, please contact:
…

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Gillian Basson, Corporate Secretary
e-mail: gbas@odfjelldrilling.com
Mobile: +44 7796 547889

Aberdeen, United Kingdom
29 April 2021
Odfjell Drilling Ltd.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

ODL – One additional well to Deepsea Atlantic

Please be advised that Equinor has exercised one additional well to the Deepsea Atlantic contract. The well has been exercised under the Continued Optionality mechanism in the contract entered into between the parties in May 2018, as part of the overall Master Frame Agreement.

The work shall commence after the completion of the current scope estimated to be in Q3 2021. The commercial terms are materially similar to the Deepsea Atlantic’s Johan Sverdrup Phase 2 contract which is expected to commence early Q1 2022.
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Vis børsmeldingen

For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0)7796 547889
gbas@odfjelldrilling.com

Aberdeen, United Kingdom
10 May 2021
Odfjell Drilling Ltd.

Kilde

[TekBot]

Odfjell Drilling Ltd. – Q1 2021 earnings announcement date and conference call details

In connection with the Q1 2021 earnings announcement on Thursday 27 May 2021, Odfjell Drilling Ltd. will host an investor conference call on the same day at 15:00hrs CET.

There will be a Q&A session subsequent to the management presentation.
…

Vis børsmeldingen

Information on how to submit questions to management will be given at the beginning of the Q&A session.

Please join the event 5-10 minutes prior to scheduled start time. When prompted, provide the confirmation code.

Belgium, Brussels +32 (0)2 404 0659
Finland, Helsinki +358 (0)9 7479 0361
France, Paris +33 (0)1 70 72 25 50
Germany, Frankfurt +49 (0)69 2222 25576
Italy, Milan +39 02 3600 8019
Netherlands, Amsterdam +31 (0) 20 703 8211
Norway, Oslo +47 2100 2610
Spain, Madrid +34 91 419 2307
Sweden, Stockholm +46 (0)8 5664 2755
United Kingdom, Local +44 (0)330 336 9127
United States, Brooklyn +1 929-477-0448

The confirmation code is: 7555422

Participants will be asked for name and company.

For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0)7796 547889
gbas@odfjelldrilling.com

Aberdeen, United Kingdom
20 May 2021
Odfjell Drilling Ltd.

Kilde

[TekBot]

ODL – Deepsea Stavanger awarded Equinor contract

Equinor has today awarded a drilling contract to Odfjell Drilling for the use of the sixth generation semi-submersible Deepsea Stavanger. The contract has a firm period of three (3) wells with an expected duration of four (4) months and an expected commencement date during Q1 2022.

The dayrate shall be similar to that agreed for sister rig Deepsea Aberdeen under its Breidablikk contract which is also set to commence during the first half of 2022. The Deepsea Stavanger’s contract includes a notable performance incentive rate which shall apply when wells are delivered safely and ahead of target.
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The Deepsea Stavanger now joins sister units Deepsea Atlantic and Deepsea Aberdeen as being contracted under the Master Frame Agreement which Odfjell Drilling entered into with Equinor in May 2018. That contractual framework includes continued optionality mechanisms for the units which can keep the units working on a longer term horizon.
Simen Lieungh, CEO Odfjell Drilling AS, says:

“We are pleased to add Deepsea Stavanger to the Equinor fleet and see significant benefits in having three units operating with one of our core clients in the North Sea. Equinor and Odfjell Drilling have a shared target to build a mutually beneficial long term cooperation which focuses on safety, carbon reduction and cost efficiency. Working under the Master Frame Agreement structure we foresee further wells being allocated to our units in the years to come.”

For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0)7796 547889
gbas@odfjelldrilling.com

Aberdeen, United Kingdom
26 May 2021
Odfjell Drilling Ltd.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

[TekBot]

ODL - Firm bank commitments for extension of 2021 debt maturities

Odfjell Drilling has, on 26 May 2021, received firm bank commitments for amending and extending the November 2021 debt maturities.

The Deepsea Aberdeen facility, currently with USD 211 million outstanding across two export credit tranches and one commercial tranche, will be extended on the existing terms. The final maturity will be adjusted to ultimo May 2024. The outstanding amount at maturity will be USD 55 million.
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The Odfjell Drilling Services Ltd facility will be extended to ultimo June 2023. The outstanding amount is currently USD 170 million. USD 20 million, otherwise repayable in November 2021, will be repaid on the closing date of the extension. The remaining facility will be repaid by quarterly instalments of USD 5 million, with the first repayment due in February 2022. The applicable margin is 400 basis points.

The commitments above are mutually dependent, and otherwise subject to final documentation being signed and standard conditions precedent being duly satisfied prior to closing.

For further queries, please contact:
Gillian Basson, Corporate Secretary
+44 (0)7796 547889
gbas@odfjelldrilling.com

Aberdeen, United Kingdom
26 May 2021
Odfjell Drilling Ltd.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde