Statoil cancels West Hercules rig contract with Seadrill

Statoil ASA has cancelled a contract with Seadrill Ltd. for the West Hercules semisubmersible drilling rig. The contract was to expire in 8 months on Jan. 31, 2017. Seadrill said it will receive a lump-sum payment of about $61 million plus reimbursement for costs associated with rig demobilization.

Source: News