Sevan Drilling, a Norway-based drilling contractor, had a disappointing third quarter when it comes to its rig fleet utilization. The company that owns three ultra-deepwater drilling rigs of cylindrical shape, reported its technical utilization of 64% versus 93% in the third quarter 2013.
In a webcast, presenting the third quarter results, Scott McReaken , Sevan Drilling CEO, explained that the main driver for this low performance was the Sevan Louisiana rig being out of service in August and September due to damages to the subsea equipment.