KS Energy extends contract with KS Java Star 2 for $3m

Its shares will remain unaffected.

KS Energy, an oilfield supply and services company, has announced that the contract with its subsidiary KS Java Star 2 jack-up drilling rig has been extended for about $3m.

However, the contract extension is not expected to affect the company’s earnings per share and net tangible assets per share for the financial year ending Dec 31.

KS Drilling is an 80.09%-owned subsidiary of KS Energy, with main activities covering onshore and offshore drilling services, rig management and support services, and oilfield equipment and leasing.

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