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Tuesday, June 5, 2018
Chariot Oil & Gas secured the Ocean Rig Poseidon to drill on its Central Blocks License offshore Namibia. The rig contract calls for the drilling of one firm well and one optional well.
Chariot currently anticipates that the drillship will arrive on location in Q4 2018 and that the drilling of Prospect S will commence shortly thereafter.
Prospect S, independently estimated as a gross mean prospective resource of 459 million barrels and a probability of geologic success of 29% by Netherland Sewell Associated Inc., is one of five dip-closed structural traps, totaling 1,758 million barrels gross mean prospective resources, that have been identified in the Upper Cretaceous turbidite clastic play fairway.
A further two higher risk-reward stratigraphic traps, totaling 885 million barrels gross mean prospective resources, could be de-risked through the calibration of the 6,100 sq km of proprietary 3D seismic data on the Central Blocks with the result of the Prospect S well.
Larry Bottomley, CEO, commented, “We are pleased to have secured the high-performance Ocean Rig Poseidon drillship for the Prospect S well in Namibia. Operational plans are now well advanced for the first deepwater drilling in our Central Blocks license in Q4 2018. We are continuing to take every advantage of the current historic low-cost drilling environment as well as maximizing any further cost synergies by cooperating with other drilling operations in Namibia.
“Our farm-out discussions are ongoing, strengthened by this well having already been fully funded, and we look forward to introducing new partners to share the costs and also the significant rewards of a discovery on Prospect S, and to accelerate the optional drilling on the transformational follow on potential.”
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