Northern Offshore

Latest Northern Offshore News

• For the full year ended December 31, 2011, the net loss was US$3.4 million or US$0.02 per diluted share.
• The company's directors have declared a dividend of US$0.03 per share, or approximately US$5.0 million.

• Northern has selected the drillship Energy Searcher for an upcoming drilling program offshore Vietnam.
• The program is expected to commence after the conclusion of the current contract with CNOOC.
• The duration is for four-well program expected to last approximately 100 days per well.

• Northern Offshore secures CNOOC contract for the drillship Energy Searcher
• The contract is for one well offshore Indonesia and has an expected duration of from 60-90 days, including travel time from and back to Singapore
• The estimated contract value for the program is from US$18-25 million, including mobilization fees

• Northern Offshore awarded a contract from Maersk for the jackup Energy Enhancer
• The contract, worth in excess of £20 million will see the Energy Enhancer work in the Danish sector of the North Sea for one year, commencing early 2012
• Maersk has options to extend the contract for up to three further years

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