Hyperdynamics taps Schlumberger for Guinea drilling services

  • Business & Finance

Hyperdynamics is getting ready to begin drilling operations at its offshore block in the Republic of Guinea.

The company on Tuesday said it signed a deal with Schlumberger for the provision of essential drilling services for the deepwater exploration well planned for the second calendar quarter of 2017

“With the signing of this agreement with Schlumberger, we now have the critical equipment and most of the drilling services contracts in place to enable us to begin drilling the Fatala-1 deepwater exploration well this spring,” said Ray Leonard, Hyperdynamics President and Chief Executive Officer.

The estimated value of the agreement with Schlumberger is approximately $4.5 million.

“Schlumberger is the world’s leading provider of oilfield services and equipment to the upstream industry. No one has more experience than Schlumberger in helping oil and gas operators safely and successfully drill for hydrocarbons in some of the deepest waters around the world.

To remind, the company recently signed a contract with Pacific Drilling to provide a drillship for the project.

“With Schlumberger as integrated project manager for drilling services — and with Pacific Drilling providing a modern deepwater drillship with an experienced crew — we have assembled a world-class contingent of equipment, services and highly experienced manpower,” Leonard said.

Netherland, Sewell & Associates, Inc., (NSAI) a provider of reserve audits and resource assessments, recently upgraded its opinion of the probability of success for the Fatala 1 prospect from 25% to 31%, saying the well represented “low-risk exploration.”

NSAI’s estimate dated April 2016 of the prospective resource potential of all drilling prospects and leads in the  5,000-square-kilometer concession area estimated the presence of 4.8 billion barrels of recoverable hydrocarbon resources. This included more than 2 billion barrels of recoverable resources in prospects with a 20% chance of success or higher.

Offshore Energy Today Staff

 

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