Esgian Week 34 Report: Appraisal Activity Is High
Esgian provides an update on drilling and demand across several regions in its Week 34 Rig Analytics Market Roundup.
Report Summary
Drilling Activity and Discoveries
Ithaca Energy expects results from sidetrack appraisal drilling at its K2 prospect in the UK North Sea during September 2023.
Neptune Energy has started drilling operations at its operated Yakoot exploration well, located in the North West El Amal Concession in the southern Gulf of Suez, Egypt.
The Wintershall Dea-operated Kan discovery off Mexico is expected to be appraised next year.
The Norwegian Petroleum Directorate (NPD) has granted Neptune Energy Norge a drilling permit for an appraisal well offshore Norway.
Demand
Shell is planning to drill an appraisal well on its Pensacola discovery located in Licence P2252 in the UK Southern North Sea in Q4 2024.
Market sources indicate Petrobras is asking the remaining bidders in the tender for one jackup to work off Brazil to confirm their intentions.
Cairn Oil & Gas is seeking global expressions of interest (EOIs) for the supply of a shallow water jackup rig for the East and West coasts of India.
Mobilization/Rig Moves
Diamond Offshore 6,000-ft semisubmersible Ocean Apex has returned to Australian waters and commenced a two-well campaign for Woodside, following yard time in Singapore.
Well-Safe Solutions’ 400-ft jackup, Well-Safe Protector, has completed a contract with Ithaca Energy and is now mobilising for Neptune Energy.
Following the completion of reactivation, Deep Value Driller AS has informed that its 12,000-ft drillship Deep Value Driller has left Westcon Yard in Norway in preparation for its voyage to West Africa.
Following a maintenance period in Scotland, the 225-ft jackup Valaris 72 is moving out of a port and to the North Sea to continue working for Eni.
Other News
Three companies have been offered exploration licences for CO2 storage in one area in the North Sea.
Shell and its partner Deltic Energy have started site survey works associated with the Selene exploration well location in the UK North Sea.
Eldorado Drilling AS has raised $130 million in a private placement, with net proceeds to be used to finance the acquisition and completion of the company’s two newbuild drillships, as well as for working capital and general corporate purposes.
TotalEnergies has signed an agreement with CapeOmega Carbon Storage, a subsidiary of CapeOmega, to acquire a 40% participating interest held by CapeOmega in the CO2 storage exploration licence ExL004 (the Luna project).
Odfjell Drilling reported an increase in its quarterly operating revenue driven by increased activity of some rigs.
ExxonMobil has submitted its development plan for the Whiptail project off Guyana as part of the environmental impact assessment for the project.
The US Bureau of Ocean Energy Management (BOEM) has published the Final Notice of Sale and Record of Decision for Gulf of Mexico Lease Sale 261, which will be held on 27 September 2023. Approximately 12,395 blocks spanning about 67 million acres will be available.
