Dolphin Drilling makes Bryce permanent CEO

Semisub rig owner Dolphin Drilling has appointed Jon Oliver Bryce permanent chief executive officer.

Bryce stepped up from chief strategy officer to take over from Bjørnar Iversen on an interim basis in January.

Before joining Dolphin Drilling, he held senior and leadership roles at Awilco Drilling and Odfjell Drilling. Bryce is also the current chair of the British Rig Owners Association (BROA) and a supervisory board member of the UK Chamber of Shipping.

“I see opportunity for Dolphin Drilling going forward. In the drilling rig sector that we currently operate, supply is at an all-time low following a prolonged period of downturn and scrapping. Rig demand, however, is now building due to a combination of macro and basin-specific reasons, creating an ever-tightening market segment,” said Bryce, noting that the Oslo-listed owner of three rigs is “uniquely positioned to capitalise on this emerging market imbalance and to create value”.

Bryce added that under his leadership the company would initially center on “delivering an improved version of Dolphin Drilling”, with a high focus on cost control, organisational optimisation and maximising financial efficiency, but that it would also look to expand through mergers and acquisitions, “where synergies and economies of scale can further enhance our investment case”.

The Aberdeen-headquartered company has also elected Ronny Bjørnådal as the new chairman, following the recent shift in ownership with Svelland Capital and B.O. Steen Shipping taking over shares from Øystein Stray Spetalen-controlled S.D. Standard ETC.

Commenting on Bryce’s appointment, Bjørnådal said: “I am highly confident that Dolphin Drilling, under Bryce’s steady and experienced leadership, will foster a culture with strong customer focus embracing new business opportunities utilising our unique platform, supported by new strategic investors with a long-term view focusing on creating shareholder value.”