Petroleum Africa
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Thursday, December 1, 2016
Hyperdynamics Corp. signed a definitive drilling services contract with a subsidiary of Pacific Drilling SA for use of the Pacific Bora drillship. The contract is for a drilling campaign on its asset offshore Guinea. The drilling campaign is set to start in Q2 2017.
The Pacific Bora is currently located in West Africa and is expected to arrive offshore Guinea shortly before the targeted spud date for Hyperdynamics Fatala-1 well. Hyperdynamics’ contract with Pacific Drilling enables it to include as many as three additional wells under the same favorable terms and conditions.
“This contract underscores our commitment to drilling our next exploration well offshore the Republic of Guinea next year,” said Ray Leonard, Hyperdynamics President and Chief Executive Officer. “Since the signing of a preliminary Letter of Award with Pacific Drilling a month ago, we have also achieved several other crucial milestones that will enable us to begin drilling the Fatala-1 prospect this spring.
“Long-lead time equipment and materials that are being turned over to Hyperdynamics by former operator Tullow Oil are currently being inspected at a storage yard in Ghana before shipment to Guinea. We are in the process of tendering for the major services that will be needed for our drilling operations as well as for support services such as boat and helicopter transportation.
“We are continuing to hold discussions with prospective working interest partners, including major multinational energy companies and independents, to share project-related costs and risks and to enhance project technical competencies. We are also exploring options to raise equity through a share offering,” Leonard said.
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