Skip to main content

RigNet Signs Long-Term Agreement with Northern Offshore

Written by Customer Service on . Posted in Public Companies.

HOUSTON, Feb. 10, 2020 (GLOBE NEWSWIRE) — RigNet (NASDAQ: RNET, the “Company”), the leading provider of ultra-secure, intelligent networking solutions, announced today that it has signed a long-term agreement with Northern Offshore, a global offshore drilling company, to provide various services to their fleet of rigs in the Middle East. Under this agreement, RigNet will provide several solutions including VSAT Managed Communications Services, CrewFlix Video on Demand, CrewHotspot internet, and Enhanced Cyber Services (ECS).
“RigNet has demonstrated their ability to meet our expectations of rapid deployment and alignment with Northern Offshore’s plans,” said Tony Beebe, SVP Project Management & Engineering. “We expect these solutions and technologies will allow us to optimize our operations for greater efficiency and increased financial performance.” RigNet is providing an advanced VSAT solution with voice and high-speed data communications as well as 24/7 remote network monitoring and technical support. This will be combined with RigNet’s ECS offering, an improved data and system security solution with real-time threat detection, as well as an advanced conditional access system tailored for 3rd-party partners on offshore rigs.In addition, RigNet is also providing crew information and entertainment services from its CrewConnect portfolio, including CrewFlix, RigNet’s video-on-demand service and Crew Hotspot, a dedicated crew internet access point. The CrewConnect portfolio provides services for improved crew morale in remote locations, enhancing operational efficiency through reduced employee turnover and increased productivity.“We are very pleased that Northern Offshore recognizes the value of RigNet as we enable their success across these vessels in the region,” said Steven Picket, President and Chief Executive Officer of RigNet. “Our goal is to deliver comprehensive managed communications services to meet the needs of customers like Northern Offshore as they improve efficiency, productivity, and safety while lowering overall cost.”About RigNet, Inc.:RigNet (NASDAQ: RNET) delivers advanced software and communications infrastructure that allow our customers to realize the business benefits of digital transformation. With world-class, ultra-secure solutions spanning IP connectivity, bandwidth-optimized OTT applications, IIoT big data enablement, and industry-leading machine learning analytics, RigNet supports the full evolution of digital enablement, empowering businesses to respond faster to high priority issues, mitigate the risk of operational disruption, and maximize their overall financial performance. RigNet is headquartered in Houston, Texas with operations around the world. For more information, please visit http://www.rig.net.Forward Looking StatementsThis press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 – that is, statements related to the future, not past, events. Forward-looking statements are based on the current expectations and include any statement that does not directly relate to a current or historical fact. Our ability to deliver services, improve crew morale, provide data security and detect threats, and enable our customer’s efficiency and financial results are examples of forward looking statements and contain words such as “anticipate,” “believe,” “intend,”, “will”, “expect,” “plan” or other similar words. These forward-looking statements involve certain risks and uncertainties, including those risks set forth in Item 1A – Risk Factors of the Company’s most recent 10-K filing, and ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. For further discussion of risks and uncertainties, individuals should refer to RigNet’s SEC filings. RigNet undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.Investor Relations Contact:
Lee M. Ahlstrom
Senior Vice President and Chief Financial Officer
RigNet, Inc.
Tel: +1 (281) 674-0699

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.