Drilling & Completion News
Eni confirms extension and well deliverability of Cronos gas discovery offshore Cyprus
Eni recently completed the Cronos-2 well, which was drilled to appraise the Cronos discovery in Block 6, offshore Cyprus. The production test allowed for the estimation of a well production capacity in excess of 150 MMSCFD.
The new well confirmed the lateral extension of the Cronos gas discovery and assessed the reservoir characteristics. The well has encountered the same carbonate reservoir sequence as Cronos-1, confirming hydraulic communication and connected thick gas column with excellent permeability intervals. Together with an extensive data acquisition, Cronos-2 underwent a full and prolonged production test that proved the excellent gas deliverability capacity of the discovery.
Cronos-2 is the fourth well drilled by Eni in Block 6, following the gas discoveries of Calypso in 2018 and Cronos and Zeus in 2022.
Equinor finds oil in North Sea exploration well, awarded 39 new production licenses
Equinor and Aker BP discovered oil in exploration well 30/12-3 S in the North Sea, approximately 40 km south of
Oseberg, according to the Norwegian Offshore Directorate. Although between 0.15 million and 0.55 million standard cu m of recoverable oil equivalent was proven, preliminary calculations indicate the discovery will not be profitable with current price assumptions.
Separately, Equinor was recently awarded 39 new production licenses by the Norwegian Ministry of Energy in this year’s Awards in Predefined Areas. It was awarded 18 production licenses in the North Sea, 13 in the Norwegian Sea and eight in the Barents Sea. Equinor is the operator of 14 of the awarded licenses and a partner in 25. The authorities increased this year’s round of awards by 92 blocks in the northwestern part of the Norwegian Sea and west of the Barents Sea.
7 H&P super-spec rigs win 5-year contracts
Helmerich & Payne (H&P) and Saudi Aramco have finalized the contractual terms related to a recent seven-rig tender award. The super-spec rigs were awarded five-year contracts, with one-year options, and are expected to commence operations shortly after delivery. For a majority of these rigs, delivery is scheduled for Q4 2024. These rigs will be sourced from H&P’s idle super-spec FlexRigs in the US, and the company plans to convert the rigs to walking configurations and further equip them to suit Saudi Aramco’s unconventional gas drilling rig specifications.
New work confirmed for 3 Borr jackups
Borr Drilling announced new contract commitments totaling 495 days and $82.2 million in contract revenue for three jackups, excluding mobilization and demobilization.
BW Energy has extended the contract for the Norve by approximately two months through July 2024.
The Mist has secured a contract extension from a subsidiary of Valeura Energy in Thailand. The extension covers a firm term of 12 months, in direct continuation of the current contract, and will keep the rig contracted through August 2025.
The Thor has received a binding Letter of Award from an undisclosed customer for work in Southeast Asia. This award covers a firm scope of two wells, with an anticipated duration of 70 days, and is expected to commence in Q3 2024 in direct continuation of the rig’s current commitment.
West Vela and West Capella drillships awarded contract, one-well extension
Seadrill recently secured a contract for the West Vela drillship with Talos Production in the US Gulf of Mexico, with an estimated duration of 150 days. The contract is expected to commence in Q3 2024 and represents a total contract value of approximately $73.5 million, excluding managed pressure drilling services.
Additionally, the operator of the West Capella drillship exercised a one-well option with the rig’s existing third-party manager, extending its operations by approximately two months. The contract represents a total contract value of approximately $24.0 million.
Diamond Offshore announces contract extension in GOM, P&A work in North Sea
Diamond Offshore Drilling has executed a two-year contract extension with a subsidiary of BP in the US Gulf of Mexico for the Ocean BlackLion, commencing in September 2024 in direct continuation of the rig’s current contract. This extension represents approximately $350 million of additional backlog.
Additionally, the company has entered into a contract with Serica Energy to utilize the Ocean Patriot semi for two plug and abandonment (P&A) wells in the UK North Sea. The program is estimated to commence in March 2024 and to continue for approximately 60 days. The contract represents over $10 million of additional backlog, excluding mobilization.
