ADES has entered a jackup drilling contract offshore Nigeria with Valiant Offshore Contractors with an estimated value of $21.8 million.
The Admarine 504 will drill and complete six wells for local operator Brittania-U, with the year-long program set to start during the second quarter.
ADES and Valiant (its in-country partner) will jointly manage rig operations;ADES will provide the rig, its senior crew and management systems to Valiant against a charter fee.
Valiant in turn will perform its drilling duties under its contract with Brittania-U.