DOLPHIN DRILLING CONTRACT UPDATES
OSLO, 11 May 2026:
Dolphin Drilling Secures UK Contract with Harbour Energy
Dolphin Drilling has secured a new contract with Harbour Energy ("Harbour") for the use of its semi submersible drilling rig Paul B. Loyd Jr. in the UK sector of the North Sea. The new agreement will commence upon expiry of the firm term of the current arrangement for the Paul B. Loyd Jr. and follows the Letter of Intent announced on 7 April 2026. The additional firm term runs through to 30 August 2030 and represents approximately USD 150 million in firm contract backlog. In direct continuation of the unit's current engagement, the new contract materially increases Dolphin Drilling's backlog and provides long term earnings visibility through 2030.
Under the terms agreed, Harbour also holds options to extend the engagement for up to a further five years. Michael Boyd, Chief Executive Officer of Dolphin Drilling, said: "This contract award is a testament to the partnership formed between Dolphin Drilling and Harbour Energy. It provides both parties with stability and the platform to continue to deliver safe and efficient operations."
Dolphin Drilling: Blackford contract
The Company announced today that the deepwater capable semisubmersible rig, Blackford Dolphin will continue its drilling contract for Oil India Limited.
Further to the company's press release of 19th November 2025, the rig is expected to remain on contract until the end of July 2026 to complete drilling, testing, and abandonment work at locations East of India. Blackford Dolphin continues on the same terms and scope of work as the existing contract. Dolphin Drilling is pleased to continue its partnership with Oil India Limited and remains committed to delivering safe and efficient operations.
Michael Boyd, Chief Executive Officer of Dolphin Drilling, said: "Dolphin Drilling now has USD 362 million in firm contract backlog with a further 849 million in LOI (as advised 14th April 2026) and options, materially improving future revenue and earnings visibility since the turn of the year. With the strong support of our shareholders, we continue to progress towards our objective of re-establishing Dolphin Drilling as a stable, efficient, and investable platform for growth".
For further information, please contact: Ingolf Gillesdal, CFO, tel: +47 920 45 320
Dolphin Drilling | www.dolphindrilling.com (http://www.dolphindrilling.com/)
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to the Norwegian Securities Trading Act section 5-12. This stock exchange release was published by Ingolf Gillesdal on the time and date provided.
About Dolphin Drilling AS:
Dolphin Drilling AS is an Oslo listed, Aberdeen head-quartered, company which owns and operates a fleet of three harsh environment mid-water & deep-water semisubmersible drilling rigs, capable of working worldwide.