Dolphin Drilling Update on arbitration award

28 Aug Dolphin Drilling Update on arbitration award

(Oilandgaspress) 28/08/26 – GHL has approached Dolphin with a non-binding, indicative proposal for an amicable solution in respect of the settlement of the arbitration award. The proposal involves a potential deployment of the Blackford Dolphin rig in Nigeria, combined with cash settlement of a portion of the amount awarded under the arbitration award.

Dolphin considers GHL’s decision to initiate contact a positive development. Although the proposal as presented does not meet Dolphin’s requirements, the starting point is encouraging from a settlement point of view and Company is prepared to engage constructively with GHL in respect of any proposal that is capable of delivering a commercially sound outcome for Dolphin, all relevant factors taken into consideration.

There can be no assurance or guarantee that any discussions will commence or, if commenced, that they will progress or result in any agreement, or as to the terms, structure, consideration or timing of any such agreement. The timing and outcome of any process remain highly uncertain. Regardless of any such discussions, Dolphin will continue to pursue collection efforts in respect of its unsecured claim.
Further information will be provided if and when appropriate.

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