NADL - North Atlantic Drilling Receives Notice of Early Contract Cancellation for the West Epsilon

Hamilton, Bermuda, September 27, 2016 - North Atlantic Drilling Limited ("North Atlantic" or the "Company") has received a notice of cancellation from Statoil Petroleum AS related to the contract for the West Epsilon. The West Epsilon was originally contracted for drilling services in Norway until the end of December 2016 and the early cancellation will be effective upon concluding its current activities in mid-October. In accordance with the contract the Company will receive a lump sum payment of approximately $11 million. The West Epsilon is currently being marketed for new employment.

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: North Atlantic Drilling Ltd. via Globenewswire