Diamond Offshore Drilling's semi-submersible rig, Ocean Apex, has initiated its drilling operations in Australia after completing a five-year special periodic survey (SPS) in Singapore. The rig has several drilling assignments lined up in Australia, with the first being a two-well campaign in collaboration with Woodside.

Following the successful completion of its SPS at the Seatrium shipyard in Singapore, the Ocean Apex rig was mobilized to Australia. The rig's crews, along with teams from Woodside and service providers, are enthusiastic about resuming drilling activities safely.

The initial assignment with Woodside is expected to last until October 2023. Subsequently, the rig will transition to work with Inpex, continuing until July 2024. The rig's schedule will then include an engagement with Santos, extending until February 2025, with the possibility of exercising options for additional work.

Santos, an Australian oil and gas company, has five priced option wells available, each anticipated to span 160 days. Following its commitment with Santos, the Ocean Apex rig is set to work for Chevron until March 2025, under a deal that includes a one priced option well with a projected duration of 40 days.

The Ocean Apex rig, built in 2014, boasts impressive specifications, including a maximum hook-load capacity of 1,000 tons, a 15k five-ram preventer, water depth capabilities of up to 6,000 feet, drilling depth capabilities of up to 30,000 feet, and a variable deck load of 7,000 long tons. The rig also offers accommodations for up to 140 personnel.

Diamond Offshore is anticipating enhanced day rates and increased fleet utilization due to new contracts and extensions in various regions, including the U.S. Gulf of Mexico, the UK, and Senegal during the second quarter of 2023. This positive outlook further strengthens the company's position in the drilling industry and underscores its commitment to operational excellence.