2020



[6-April-2020] Atlantica Tender Drilling Ltd. (ATDL) – Notice of Written Bondholders’ Resolution

Please find attached Notice of Written Bondholders’ Resolution.
NO0010675580_SB_20200406


For further information, please contact:
Reese McNeel
CFO
Atlantica Tender Drilling Ltd.
+47 415 08 186
reese.mcneel@atlanticatd.com



[30-March-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – COVID-19 IMPACT ON OPERATIONS AND FINANCING

Bermuda, 30 March 2020 – Restrictions on travel, quarantine, stay at home orders and other measures have been initiated in the Republic of Congo, Brazil and the U.S. as well as in many other jurisdictions around the world in response to the COVID-19 pandemic. These are having a direct impact on ATDL’s operations and financial performance. ATDL believes it is likely that the scope and severity of these issues will increase in the days and weeks to come.

ATDL is working closely with its clients to find solutions to the current challenges. In so doing, ATDL is prioritising the safety, security and health of all its employees.

In view of the above, ATDL is in dialogue with its financial creditors to ensure that all available steps are taken to preserve liquidity and to enable the Company to respond to the challenges as they may arise.

As a consequence, the bond coupon payment due on 23 March 2020 and the payments of interest and amortisation under the senior bank facility have been suspended until end of April when a new assessment of the Company’s overall situation will be made.

For further information, please contact:

Reese McNeel
CFO
Atlantica Tender Drilling Ltd.
+47 415 08 186
reese.mcneel@atlanticatd.com


[13-March-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – Petrobras Contract extension and fleet status update

Bermuda, 13 March 2020, ATDL has today agreed a further contract extension with Petrobras for the use of the 2013 built semi-tender unit BassDrill Beta. The contract has been extended for 1 year to March 2021. Petrobras also has the option to extend the contract for an additional year to March 2022. The option shall be exercised prior to November 2020. The rate and terms agreed with Petrobras are broadly in line with existing terms.

As announced on 12 February 2020, Total has chosen to only complete the 17 well primary drilling campaign on the Moho Nord field offshore the Republic of Congo, Brazzaville. The Atlantica Delta is expected to be demobilized in mid-2020.

ATDL is actively pursuing potential re-deployment opportunities for the Atlantica Delta unit. Subject to securing a contract, the vessel would be upgraded and modified from Q2 to Q4 2020 with commencement of a new contract from earliest late Q4 2020 / Q1 2021. Should a contract not be secured, the vessel will be laid up pending the securing of a new contract.

ATDL has implemented measures and is working with its clients to protect the health of all its employees and partners and to mitigate the operational impact due to the ongoing COVID 19 pandemic.

ATDL also plans to implement further cost reduction and other financial measures in the coming weeks in response to the Atlantica Delta unit ending its contract.

For further information, please contact:

Reese McNeel

CFO

Atlantica Tender Drilling Ltd

+47 415 08 186Paragraph

[12-February-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – Atlantica Delta, expiry of well options

The 2015 built semi-tender drilling unit Atlantica Delta is currently contracted by Total E&P Congo (Total) for a 17 well fixed development drilling program on the Moho Nord field offshore the Republic of Congo, Brazzaville.

The contract contains multiple options for Total to drill up to 10 additional wells, to be exercised prior to completion of the 15th well. ATDL has recently completed the 15th well. Total has chosen not to exercise any of the available options at this time. The parties remain in discussions regarding possible work beyond the 17th well.

The Atlantica Delta is expected to complete the 17 well drilling campaign on Moho Nord in mid-2020. Subject to the outcome of discussions, the unit would then be demobilized from the Moho Nord field.

For further information, please contact:

Reese McNeel

CFO

Atlantica Tender Drilling Ltd

+47 415 08 186

reese.mcneel@atlanticatd.com



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