Equinor has terminated the contract for a deepwater drilling rig the former operator had hired to develop the North Platte oeld in the Gulf of Mexico, dealing what could be the death blow to the ultra-high-pressure Lower Tertiary discovery. Valaris said late Wednesday that Equinor had delivered a termination notice for the drillship DS-11 that will take effect at the end of this month. The contract was worth about ff428 million to Valaris' ff2.5 billion contract backlog. Valaris said it would receive an unspecioed early-termination fee "that is more than sufocient to cover expenses and commitments incurred by Valaris on the project. "
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