All posts by Denise Hernandez.

[15-July-2021] ATLANTICA TENDER DRILLING LTD. (ATDL) – Expiry of bondholder option period and enforcement by senior banks

Bermuda, 15 July 2021 – Reference is made to the press release from 02 June 2021 regarding the standstill with the Senior Banks under the Senior Bank Facility (the “Standstill“) as well as the press releases from 12 April 2021 and 14 April 2021 regarding notice of default and original cash sweep by the Senior Banks under the Senior Bank Facility. The buy-out option period for the Bondholders under the Intercreditor Agreement expired on 13 July 2021 without the Bondholders Read More


[02-JUNE-2021] ATLANTICA TENDER DRILLING LTD. (ATDL) – Financing Update and Standstill

Bermuda, 02 June 2021 – Reference is made to the financial indebtedness of Atlantica Tender Drilling Ltd. (“ATDL“) consisting of (i) a senior bank facility (the “Senior Bank Facility“) under which a principal amount of USD 53.7 million is outstanding to certain commercial banks (the “Senior Banks“) and (ii) a bond issue under which a principal amount of USD 137.7 million is outstanding (the “Bond Loan“) to certain bondholders (the “Bondholders“). All substantial assets of ATDL are pledged as security Read More


[14-April-2021] ATLANTICA TENDER DRILLING LTD. (ATDL)-Notice of event of default under Senior Bank Facility and purchase option under the Intercreditor Agreement

Bermuda, 14 April 2021, Reference is made to the press release from 12 April 2021 regarding notice of event of default and cash sweep, please find attached further notice from the Nordic Trustee regarding purchase option under the Intercreditor Agreement. For further information, please contact:Reese McNeelCFOAtlantica Tender Drilling Ltd.+47 415 08 186reese.mcneel@atlanticatd.com NO0010675580


[12-April-2021] ATLANTICA TENDER DRILLING LTD. (ATDL) – Notice of default and cash sweep

Bermuda, 12 April 2021 – Reference is made to the press release from 31 December 2020 regarding suspension of bond coupon payments and payments of interest and amortisation under the senior bank facility effective 31 December 2020. ATDL has been issued with a notice of default under the senior bank facility and a notice of protective cash sweep under the finance documents. The security agent on behalf of the lenders has executed a sweep of funds from ATDL to an Read More


[31-December-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – Financing Update

Bermuda, 31 December 2020 – Reference is made to the press release from 10 December 2020 regarding Petrobras’ notice to demobilize BassDrill Beta from the Papa Terra field. It is expected that the rig will be fully demobilized and off-hire during Q2 2021. While ATDL continues to pursue new opportunities for both of its rigs, BassDrill Beta and Atlantica Delta, there exists today a high likelihood that both rigs will be off-hire and stacked from mid 2021. Given the situation, Read More


[12-November-2020] Atlantica Tender Drilling Ltd. (ATDL) – Annual General Meeting

Reference is made to the notice of Annual General Meeting (AGM) published on October 30, 2020. The AGM was held on November 10, 2020. All proposed resolutions were adopted. Following the AGM, the board of directors of Atlantica Tender Drilling Ltd (ATDL) is as follows: Mr. Erling Lind – ChairmanMr. Pal Reiulf Olsen – Deputy ChairmanMr. Alf C Thorkildsen – DirectorMr. Kristan Bodden – Director For further information, please contact: Reese McNeelCFOAtlantica Tender Drilling Ltdreese.mcneel@atlanticatd.com+47 41508186


[30-October-2020] Atlantica Tender Drilling Ltd. (ATDL) – Bank and Bond Maturity Date Extension

Bermuda, 30 October 2020 -Reference is made to the press release from 30 September 2020, which outlined agreed amendments to the Senior Facility Agreement and Bond Issue. The amendments have now been finalized. The Bank Facility has been extended to 30 September 2021 and the Bond Issue to 31 October 2021. For further information, please contact: Reese McNeelCFOAtlantica Tender Drilling Ltd+47 415 08 186reese.mcneel@atlanticatd.com


[30-October-2020] Atlantica Tender Drilling Ltd. (ATDL) Notice of Annual General Meeting

Per the attachment, a notice has been sent to the Company’s shareholders, such notice informing that the 2020 Annual General Meeting («AGM») of the Company will be held at Victoria Place, 5th Floor, 31 Victoria Street, Hamilton HM 10, Bermuda, on 10 November 2020 at 3:00 pm (CET). The proposed agenda comprises solely the ordinary business of the AGM. Participation by way of proxy only: Shareholders of the Company are asked to submit their proxies for participation to the Company’s Read More


[16-October-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – Announces Safety Milestone for the Company

Bermuda, 16 October 2020 – ADTL announced this week that the company has reached a safety milestone of 2000 days of working Lost Time Incident free for its operations in Brazil and the Congo.  The Bassdrill Beta remains on location for Petrobras in Brazil while the Altantica Delta has concluded its demobilization from Total’s Noho Nord TLP, in the Congo, and has now arrived today in the Port of Las Palmas.  The company is very proud of this achievement, placing Read More


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

Bermuda, 16 October 2020 – Reference is made to the press release from 30 September 2020 regarding amendments to the Senior Facility Agreement and Bond Issue. Please find attached the respective Notice of Written Bondholders’ Resolution. NO0010675580_SB_20201016 For further information, please contact:Reese McNeelCFOAtlantica Tender Drilling Ltd.+47 415 08 186reese.mcneel@atlanticatd.com


[ 09-October-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – Petrobras contract update

Bermuda, 09 October 2020 – ATDL has agreed a contract amendment with Petrobras for the use of the 2013 built semi-tender unit BassDrill Beta. The rig remains on long-term standby. ATDL has agreed amended terms for the current standby period, including a lower day rate and the corresponding ability for ATDL to reduce contractual manning and associated costs. The notice period for Petrobras to exercise the additional on year option, which would extend the contract from March 2021 to March Read More


[30-September-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – CHANGE IN LEADERSHIP

Bermuda, 30 September 2020 – ATDL has executed a leadership transition following the retirement of Chief Executive Officer, Kerry Kunz. Kerry’s leadership with ATDL started in 2007 as one of the founders of BassDrill, later renamed Atlantica Tender Drilling. Over the next several months Kerry will remain connected in an advisory capacity to assist with the transition. The company would like to sincerely thank Kerry for his many years of service and wishes him all the best in his new Read More


[30-September-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – BANK FACILITY MATURITY DATE EXTENSION AND UPDATE ON CREDITOR DISCUSSIONS

Bermuda, 30-September-2020, ATDL is the borrower under a senior secured bank facility agreement with an outstanding amount of USD 86.4 million (the “Senior Facility Agreement”) and issuer under a secured bond with an outstanding amount of USD 135.6 million (the “Bond Issue”). ATDL, its lenders and key bondholders have reached an agreement (subject to formalisation) for amendments to the Senior Facility Agreement and Bond Issue. The amendments include:  (i)            An extension of the maturity date of the Senior Bank Facility Read More


[16-September-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – Update regarding Atlantica Delta

Bermuda, 16 September 2020 – With reference to the press release made on 30 June 2020, the Atlantica Delta has now completed its process of demobilization from Total’s Moho Nord TLP offshore Congo (Brazzaville). The rig is under tow to the Canary Islands, Spain, where it will be stacked while other opportunities are pursued for the vessel.  With its maiden drilling campaign complete, the rig and crews can enjoy a safety record that saw rig construction, rig-up, drilling of sixteen Read More


[30-June-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – Financing and Operations Update

Bermuda, 30 June 2020 – Atlantica Delta is in the process of demobilization from Total’s Moho Nord TLP offshore Congo (Brazzaville). The demobilization process has been extended due to the impact of travel restrictions and other measures resulting from the COVID-19 pandemic. It is now expected that the rig will be fully demobilized and off-hire from early to mid-August 2020. At this time, the company intends to reposition the Delta for stacking until a new opportunity can be secured. BassDrill Read More


[02-June-2020] Atlantica Tender Drilling Ltd (ATDL) – Fleet status update (Beta and Delta)

Bermuda, 02 June 2020, Petrobras has suspended operations on Beta following the completion of the most recent well. The Beta will remain on location and has been placed on a long-term standby rate for an indefinite period of time Total E&P Congo has initiated the demobilization of Atlantica Delta from the Moho Nord TLP. The demobilization process is expected to take additional time due to the restrictions imposed by Covid-19. For further information, please contact: Reese McNeel CFO Atlantica Tender Read More


[13-MAY-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – Extension of Standstill

Bermuda, 13 May 2020 – Reference is made to the press releases from 30 March 2020 and 06 April 2020, regarding the suspension of payments to financial creditors and subsequent standstill agreements entered into with bondholders and lenders to 30 April 2020. ATDL has today extended the standstill arrangements with both bondholders and lenders to 31 May 2020. ATDL remains in dialogue with its financial creditors regarding the way forward. For further information, please contact: Reese McNeel CFO Atlantica Tender Read More


[27-April-2020] Atlantica owned rig BassDrill Beta surpassed 5 years without a lost time injury.

On April 21, 2020, Atlantica owned rig BassDrill Beta surpassed 5 years without a lost time injury. The entire five-year duration of this safety milestone was archived while the rig was under contract with Petróleo Brasileiro S.A. (“Petrobras”) in Brazil.  This achievement demonstrates the Beta team’s commitment to a zero-incident philosophy and safety culture.


2020

[16-September-2020] ATLANTICA TENDER DRILLING LTD. (ATDL) – Update regarding Atlantica Delta Bermuda, 16 September 2020 – With reference to the press release made on 30 June 2020, the Atlantica Delta has now completed its process of demobilization from Total’s Moho Nord TLP offshore Congo (Brazzaville). The rig is under tow to the Canary Islands, Spain, where it will be stacked while other opportunities are pursued for the vessel.  With its maiden drilling campaign complete, the rig and crews can enjoy Read More


[15-April-2020] Atlantica Tender Drilling Ltd. (ATDL) Atlantica Delta on Standby

Bermuda, 15 April 2020, ATDL has reached an agreement with Total E & P Congo to keep the Atlantica Delta on a reduced standby rate. This agreement is expected to remain in effect until such time as travel restrictions are lifted. The rig is presently warm stacked alongside the Moho Nord TLP following the completion of the most recent well. For further information, please contact:Reese McNeelCFOAtlantica Tender Drilling Ltd.+47 415 08 186reese.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 Read More


[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 Read More


[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. Read More


[3-December-2019] Atlantica Tender Drilling Ltd. (ATDL) Update on Merger with Energy Drilling Company news

On 04 April 2019, ATDL and Energy Drilling Pte. Ltd (Energy Drilling) announced the signing of a letter of intent to merge the two companies. The decision has now been taken to postpone the merger. In the last months, both ATDL and Energy Drilling have worked hard to secure longer term financing and support for the merger. While respective shareholder and lending groups have been positive to a merger, it has proved difficult to obtain longer term financing to support Read More


[20-November-2019] Atlantica Tender Drilling Ltd. (ATDL) Appointment of New Chairman

Mr. Helge Haakonsen has resigned his position as director and chairman of Atlantica Tender Drilling Ltd (ATDL). We wish to thank Helge for his significant contribution to the Company’s development over the past years and wish him all the best for the future. Mr. Erling Lind has been appointed as director and new chairman. We take this opportunity to welcome Erling to ATDL. For further information, please contact: Reese McNeel CFO Atlantica Tender Drilling Ltd reese.mcneel@atlanticatd.com +47 41508186


2019

[3-December-2019] Atlantica Tender Drilling Ltd. (ATDL) Update on Merger with Energy Drilling Company news On 04 April 2019, ATDL and Energy Drilling Pte. Ltd (Energy Drilling) announced the signing of a letter of intent to merge the two companies. The decision has now been taken to postpone the merger. In the last months, both ATDL and Energy Drilling have worked hard to secure longer term financing and support for the merger. While respective shareholder and lending groups have been positive Read More


Erling Lind / Chairman

He is a partner in the law firm Ro Sommernes Advokatfirma DA in Oslo. Prior to becoming a partner in this firm, in January 2018, he was a partner in Advokatfirmaet Wiersholm AS for 30 years. Mr. Lind advises clients in mergers and acquisitions, financing matters, corporate law and other commercial law issues in a variety of industries. He has a long standing relationship with the oil service industry in general and the drilling industry in particular. Mr. Lind has, Read More


Pål Reiulf Olsen / Deputy Chairman

Mr. Olsen has 20 years of experience in the oil and gas sector and joined HitecVision in 2009. He has for the past 14 years been Director, Corporate Finance, in the Norwegian investment bank First Securities ASA (formerly Elcon Securities AS) and has for the past ten years headed First’s energy sector corporate finance team. Prior to joining Elcon Securities Mr. Olsen served as Chief Controller and Head of Strategic Planning in Aker ASA, parent company of the Aker Group. Read More


Alf Thorkildsen

Mr. Alf C.Thorkildsen joined the HitecVision partner group in 2013 from the position as Chief Executive Officer of Seadrill (2008-2012). From 2007 to 2008 Mr. Thorkildsen served as Chief Operating Officer in Seadrill. From 2002 to 2006, Mr. Thorkildsen was the Chief Financial Officer for the offshore drilling contractor Smedvig, and following the acquisition of Smedvig by Seadrill, Mr. Thorkildsen served as the Chief Financial Officer in Seadrill until 2007. Prior to joining Smedvig, Mr. Thorkildsen worked for more than Read More


[18-October-2019] Atlantica Tender Drilling Ltd (ATDL) – AGM and Change in Board of Directors

Reference is made to the notice of Annual General Meeting (AGM) published on October 08, 2019. The AGM was held on October 16, 2019. All proposed resolutions were adopted. Following the AGM, the board of directors of Atlantica Tender Drilling Ltd (ATDL) is as follows: Mr. Helge Haakonsen – Chairman Mr. Pål Reiulf Olsen – Deputy Chairman Mr. Alf C Thorkildsen – Newly elected Mr. Kristan Bodden – Newly elected For further information, please contact: Reese McNeel CFO Atlantica Tender Read More


[15-October-2019] ATLANTICA TENDER DRILLING LTD. – UNDERWRITTEN EQUITY ISSUE COMPLETED

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN OR INTO THE UNITED STATES, AUSTRALIA, HONG KONG, SOUTH AFRICA, NEW ZEALAND, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. Bermuda, October 15, 2019 – Reference is made to the NOTC stock exchange notice published by Atlantica Tender Drilling Ltd. (“ATDL” or the “Company“) concerning the private equity offering directed solely to its existing shareholders Read More


[08-October-2019] Notice of 2019 Annual General Meeting

Per the attachment, a notice has been sent to the Company’s shareholders, such notice informing that the 2019 Annual General Meeting («AGM») of the Company will be held at Victoria Place, 5th Floor, 31 Victoria Street, Hamilton HM 10, Bermuda, on 16 October 2019 at 3:00 pm (CET). The proposed agenda comprises solely the ordinary business of the AGM. Participation by way of proxy only: Shareholders of the Company are asked to submit their proxies for participation to the Company’s Read More