Drilling ban prompts Anadarko to ask for cancellation of rig contract

06/21/2010 | Bloomberg

Anadarko Petroleum requested that a court terminate its agreement for leasing Noble's offshore rig for activities in the Gulf of Mexico. Restrictions stemming from the deepwater-drilling moratorium have prevented Anadarko from using the rig in the Gulf, prompting it to declare force majeure and seek to cancel the deal and related payments to Noble. In response, Noble argued that the moratorium does not prevent Anadarko from dispatching the rig elsewhere.

View Full Article in:

Bloomberg

Published in Brief: