Thai-based NuCoastal, an affiliate of Coastal Energy, has signed a contract with Atwood Oceanics to extend the charter operation of the Vicksburg jack-up rig, offshore Thailand, by one year.

Under the terms of the charter agreement, Coastal will pay the dry rate of $90,000 per day for the first six months.

The dry rate will be increased to $95,000 per day during the second half of the contract, reports upstreamonline.com.