Northern Ocean Secures Contract with Rhino Resources for Namibia Drilling Operations

Reuters

07-09

<a href="https://laohu8.com/S/NTNOF">Northern Ocean</a> Secures Contract with Rhino Resources for Namibia Drilling Operations

Northern Ocean Ltd. $(NOL.AU)$ has announced a new contract with a subsidiary of Rhino Resources Ltd. for the use of the Deepsea Mira rig in Namibia. The operations are set to begin in mid-July 2025 and include one firm well for Rhino, another for a different operator, and three optional wells. The firm duration of the contract is estimated at 112 days, with a projected value of approximately USD 40 million. This contract raises NOL's firm backlog to between USD 395 and 412 million. The collaboration involves NOL, Rhino, and Halliburton, emphasizing strong local content and commitment to Namibian development. The project will focus on drilling the Volans-1X exploration well as part of Rhino's PEL85 venture.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Northern Ocean Ltd. published the original content used to generate this news brief on July 08, 2025, and is solely responsible for the information contained therein.

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The operations are set to begin in mid-July 2025 and include one firm well for Rhino, another for a different operator, and three optional wells. The firm duration of the contract is estimated at 112 days, with a projected value of approximately USD 40 million. This contract raises NOL's firm backlog to between USD 395 and 412 million. The collaboration involves NOL, Rhino, and Halliburton, emphasizing strong local content and commitment to Namibian development. The project will focus on drilling the Volans-1X exploration well as part of Rhino's PEL85 venture.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Northern Ocean Ltd. published the original content used to generate this news brief on July 08, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IMVIF","symbol_name":"IMV Inc.","start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250708:nNDL6FBzh0:1","article_id":"2550578725","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2550578725","pubTimestamp":1752005864,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Northern Ocean Ltd.  has announced a new contract with a subsidiary of Rhino Resources Ltd. for the use of the Deepsea Mira rig in Namibia. 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