Songa Offshore, an international offshore drilling company, has released its monthly rig fleet update for February 2014.
Songa Venus achieved an operational efficiency of 100% and an earnings efficiency of 98% during the month working for Mubadala Petroleum in Malaysia.
Songa Mercur achieved an operational efficiency of 100% and an earnings efficiency of 100% during the month working for Idemitsu in Vietnam.
Songa Trym achieved an operational efficiency of 100% and an earnings efficiency of 98% during the month working for Statoil in Norway.
Songa Dee achieved an operational efficiency of 100% and an earnings efficiency of 93% during the month working for Statoil in Norway.
Songa Delta achieved an operational efficiency of 100% and an earnings efficiency of 96% working for Statoil in Norway.
The earnings efficiencies of the three rigs operating in the North Sea were all negatively impacted by the rigs earning a Waiting-on-Weather rate due to inclement weather for extended periods of the month.
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Press Release, March 06, 2014