Lion signs drilling contract with Silver City for Indonesia exploration well

Lion Energy signed a drilling contract with Silver City Drilling for the Bula Karang-1 exploration well in the East Seram PSC on Seram Island, Indonesia. The contracted rig, SCD-20, is a 900 HP Schramm Rotadrill TXD200 hydraulic unit currently working in East Java, Indonesia. The well is targeted to spud in July 2026.

The rig was selected for its suitability for the planned deviated well design, with the Bula Karang-1 well planned to spud from an onshore location and deviate approximately 1,000 m laterally offshore to test the crest of a seismically defined carbonate reef target at approximately 550 m below sea level. Tendering is ongoing for directional drilling, cementing, drilling fluids and wireline services.