By OGJ editors
HOUSTON, Oct.17 -- Devon Energy Corp. has signed a 4-year contract valued at $690 million with Seadrill Offshore AS, Bermuda, for the West Sirius semisubmersible for drilling in the Gulf of Mexico. Devon has the option to extend the initial contract term to 5 or 6 years.
The semi is under construction in Singapore and is scheduled for delivery in the second quarter of 2008. It is designed to drill to 37,500 ft in water as deep as 10,000 ft, so it is capable of drilling any of Devon's current deepwater prospects.
Prior to the West Sirius contract, Devon signed a 4-year contract for Diamond Offshore Drilling Inc.'s Ocean Endeavor semisubmersible. This deepwater rig, which is being refurbished in Singapore, is scheduled to arrive in the Gulf of Mexico in the second quarter of 2007. It is capable of drilling to 35,000 ft in 10,000 ft of water.