Ruling on oil rig case 'positive' for Providence
$1.35m Providence must pay is below what it estimated in interim results
A London court has ruled that exploration company Providence Resources must pay oil rig supplier Transocean around £1.1m or $1.35m.
The case related to the use of a drilling unit on the Barryroe oil field off the south coast of Ireland.
The figure Providence must pay compares with an estimate of around $3.9m in its interim results earlier this year.
Providence chief executive Tony O’Reilly described the news as a “very positive result, ...
