Dolphin Drilling AS announced Safety Case acceptance from the UK Offshore Major Accident Regulator (OMAR) for the semi-submersible Paul B. Loyd, Jr., being acquired from Transocean to develop a leading offshore drilling contractor in the UK sector. Reference is made to the announcement 22 June 2023 regarding the acquisition of two semi-submersible rigs, the Paul B. Loyd, Jr. and the Transocean Leader. The agreement was conditioned upon acceptance of a material change of the Paul B. Loyd, Jr. UK HSE safety case to Dolphin Drilling as duty holder, and which was expected within 31 December 2023, and obtained ahead of schedule.

Following closing of the rig acquisition the Paul B. Loyd, Jr. will be under contract with Harbour Energy in the UK with the firm period slated to last until September 2027, with another 5 x 1 year option periods thereafter.