The profit for 2012 of Maersk Drilling was US$359 million compared to US$488 million in the record breaking year 2011. This financial result was negatively affected by more than US$125 million due to the delayed start-up for 2 oil drilling rigs in 2012. The delay was caused by prolonged maintenance yard stays and operational problems of the drilling platforms.
“The financial result for the last year isn't satisfactory. The drilling company had start-up problems on 2 oil drilling rig platforms, Maersk Discoverer and Maersk Endurer that meant loss of day rates and further costs for maintenance of the 2 platforms. However, looking forward Maersk Drilling company has a strong forward agreement coverage securing us with a high degree of earnings visibility that provides us with a solid basis for our future growth,” told the CEO of Maersk Drilling, Claus V. Hemmingsen and member of the EB of the A.P. Moller - Maersk Group.
The forward contract of Maersk Drilling coverage was 98 per cent for 2013, by the end of 2012. For 2014 Maersk Drilling's forward contract coverage is 76 per cent and 51 per cent for 2015.
Maersk Drilling currently has 7 oil drilling platforms under construction, which number includes 3 ultra harsh jack-up drilling platforms and 4 ultra deepwater drill vessels corresponding to a committed investment of US$4.5 billion. Of the 7 newbuild oil platforms, contracts have already been provided for 5 rigs totalling a contract backlog of seventeen rig years and an estimated revenue backlog of around US$2.9 billion.
Maersk Drilling currently has 7 oil drilling platforms under construction, which number includes 3 ultra harsh jack-up drilling platforms and 4 ultra deepwater drill vessels corresponding to a committed investment of US$4.5 billion. Of the 7 newbuild oil platforms, contracts have already been provided for 5 rigs totalling a contract backlog of seventeen rig years and an estimated revenue backlog of around US$2.9 billion.