Pemex has given verbal notification that it expects to terminate the charters of the semi-submersible drilling rigs Ocean Ambassador, the Ocean Nugget, the Ocean Summit and the Ocean Lexington.
Diamond said it had not received written notice of termination and was in discussions with the Mexican state-owned oil company regarding the rigs
Cowen & Co analyst JB Lowe says based on existing contracts the total backlog remaining on the four rigs equals roughly $300m.
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