Dolphin Drilling secures multi-year contract extensions for Paul B. Loyd Jr. and Borgland Dolphin rigs
Type: Supply Agreement · Technology: Oil Gas · Country: United Kingdom, Spain · Announced: 2026-08-30
Dolphin Drilling has secured new multi-year contract awards for its Paul B. Loyd Jr. and Borgland Dolphin rigs, significantly extending its revenue visibility through 2031. The Paul B. Loyd Jr. rig is contracted through September 2030 with Harbour Energy for operations offshore the UK, currently on sublet to Ithaca Energy, carrying a firm revenue backlog of $247 million. The Borgland Dolphin rig is contracted through November 2031 for operations offshore Spain and subsequently offshore the UK, with a firm backlog of $291 million and five years of options estimated at an additional $287 million. These awards collectively push Dolphin Drilling's total firm revenue backlog to $557 million as of June 30, 2026, with potential total reaching $1 billion including options. The contracts represent a structural shift for Dolphin Drilling, providing greater earnings visibility in the moored semi-submersible segment.
Counterparties
- Dolphin Drilling (Supplier)
- Harbour Energy (Customer)
- Ithaca Energy (Sublessee)
📈 The Sherpa Signal — one notable infrastructure deal a day.
📘 Sherpa Guides — practitioner guides to developing, financing and acquiring infrastructure.