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Wednesday, January 4, 2017
Hyperdynamics Corp.’s subsidiary, SCS Corp., signed a Master Service Agreement (MSA) with Schlumberger to provide essential drilling services for the deepwater exploration well planned for Q2 offshore Guinea.
Under the MSA, Schlumberger will be the primary provider of services to drill the Fatala-1 well. These services include wireline logging, MWD, LWD, and similar downhole services. The contract also calls for Schlumberger to provide drilling fluids and solids control services, downhole cementing, mudlogging, and drilling bits and reamers among other services.
The estimated value of the MSA for the Fatala-1 well is approximately $4.5 million.
“With the signing of this agreement with Schlumberger, we now have the critical equipment and most of the drilling services contracts in place to enable us to begin drilling the Fatala-1 deepwater exploration well this spring,” said Ray Leonard, Hyperdynamics President and CEO.
Hyperdynamics has also achieved other key milestones as it prepares to begin drilling operations, including the finalizing of contracts for additional support services, including offshore supply vessels, helicopter transportation services and remotely operated underwater vehicle supply and services.
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