Cobalt International amends rig contract with Ensco

Offshore independent oil and gas firm Cobalt International Energy amended its rig contract with Ensco Plc, to "substantially reduce" daily rate in case delays in the issuance of drilling permits in the Gulf of Mexico keep the rig idle.
Though the Obama administration in October lifted a ban imposed late May on deepwater drilling in the U.S. Gulf, companies say permitting delays still remain a cause of concern.
[Read more]
Source: Reuters