Aquadrill Announces Charter Hire Agreement for the Capella

LONDON, Nov. 22, 2022 /PRNewswire/ -- Aquadrill LLC ("Aquadrill" or the "Company") and a subsidiary of Vantage Holdings International (the "Manager") have reached an agreement to provide the Capella, an MPD outfitted 6^th generation drillship, for a four firm well contract plus two priced and three mutually agreed optional wells for operations in Indonesia.

The total contract value for the firm portion of the contract is expected to be approximately $138 million. Work is expected to commence in early May 2023 and to run until mid-April 2024.

In the event the priced options are exercised, the rig is expected to be available in early September 2024 and the total additional contract value is expected to be approximately $56 million.

FORWARD LOOKING STATEMENTS

This news release includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company's plans, strategies, business prospects, contracts, agreements, changes and trends in its business and the markets in which it operates. The duration, timing (including both starting and ending dates) and total contract value of customer contracts and any related agreements are estimates only. The actual total contract value over the course of any given contract or agreement may be lower and could be substantially lower, depending on a number of factors (cancellation, suspension, delays, rig downtime, etc.). These statements are made based upon management's current plans, expectations, assumptions and beliefs concerning future events impacting the Company and therefore involve a number of risks (some beyond the control of the Company), uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, which speak only as of the date of this news release. Consequently, no forward-looking statement can be guaranteed. When considering these forward looking statements, you should keep in mind the risks described from time to time in the Company's regulatory filings and periodic reporting. The Company undertakes no obligation to update any forward looking statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the impact of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward looking statement

CONTACT:

aquadrill@aquadrilloffshore.com