Daily Archives: April 10, 2013

Gulf of Mexico: Stone Energy Hires Ensco Semi

Stone Energy  has contracted an ENSCO 8500 series dynamically positioned deep water drilling rig for Stone’s Cardona oil development program at Mississippi Canyon 29.

Drilling on the first Cardona well is expected to commence during the second half of 2013 followed by the drilling of the Cardona South well. Stone plans to tie back both wells to the 100% owned Pompano platform with production projected for late 2014. Stone holds a 65% working interest in the Cardona wells and will be the operator.

Chairman, President and CEO David Welch stated, “The signing of the Ensco contract allows us to move forward to more fully develop the reserves around the Pompano platform. These Stone-operated deep water wells allow us to be in control of the planning and timing of the Cardona project. After years of preparation, we look forward to progressing our deep water development and exploration efforts.”

Separately, the ENSCO 81 jack-up rig is expected to begin drilling on a three to four well conventional shelf/deep gas drilling program in May 2013. Stone expects to drill the Hammerlock oil prospect located on South Timbalier 100, followed by the Taildancer oil prospect located on Ship Shoal 113. The remaining one or two wells will follow Taildancer. Also in May 2013, the Parker 50B inland barge rig is expected to spud an infield oil well prospect in the Stone-operated Clovelly field. Stone holds a 94% working interest in Hammerlock and a 100% working interest in Taildancer and Clovelly.

At the La Cantera liquids-rich deep gas field, the third well was successfully drilled to 18,000 ft and is currently in completion operations with first production expected in June 2013. Combined with the first two wells, gross production from this field is projected at over 100 MMcfe per day (over 25 MMcfe per day net) when the third well commences production. Stone holds a 34.6% non-operated working interest in the field.

Drilling operations at the deep water Malachite prospect located on Mississippi Canyon 258 are complete. The well has been logged and marginal hydrocarbons were found in several sands. The partners have decided not to proceed with the project and the well is currently being plugged and abandoned. Stone holds a 40% non-operated working interest in the prospect and the net well cost is estimated at approximately $22 million.

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Total Extends Drilling Contract for Pacific Scirocco Drillship

Drilling contractor Pacific Drilling S.A. has announced that Total S.A. has elected to exercise a one-year option to extend the firm contract term for the Pacific Scirocco to January 2015.

The contract provides for a further option, to be exercised at the client’s discretion by April 7, 2014, which could result in two additional years of contract term at a higher dayrate.

Related:  Pacific Scirocco Drillship Begins Work in Nigeria

The additional one year term increases the drillship’s backlog by approximately $180 million, bringing the company’s total contract backlog as of April 9, 2013, to approximately $3.4 billion. The additional extension for two years would add a further $364 million backlog if exercised.

The Pacific Scirocco is capable of operating in water depths of up to 12,000 feet and drilling wells 40,000 feet deep.

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Reef Subsea Secures Offshore Operations Contracts in West Africa

Reef Subsea has secured two contracts for offshore operations in the West Africa region with a combined value of more than US$15M (£9.8 Million).

The firm’s IMR and Construction division, based in Bergen, Norway, is working with two major oil and gas companies on the projects in The Republic of Congo and Equatorial Guinea.

For both projects, Reef Subsea, which also has a presence in Aberdeen, Houston, Mandal in Norway and Surrey and Stockton-on-Tees in England, is providing operational support using one of its subsea construction support vessel’s, Reef Larissa, which will perform structure installations, ROV & survey operations and commissioning support in water depths down to 1400 metres. In addition, onshore engineering will be delivered from Reef Subsea’s Bergen office. Reef Subsea will add to the operational competence and experience involved in the projects while ensuring the scope of work is carried out in a safe and efficient manner.

Tim Sheehan, Executive VP Commercial of Reef Subsea, said: “We are delighted to have been awarded these two contracts, which confirm our teams and assets are well adapted to subsea construction operations in deepwater worldwide. We have already worked in West Africa over the past few years, and are pleased to be operating in this region again to strengthen our reputation further.”

Ørjan Lunde, Managing Director of Reef Subsea IRM & Construction, said: “We are pleased to have secured these two projects in West Africa with blue chip operating companies. West Africa will be a key region for us in the future to meet our strategy to become a leader in field of life IRM & Construction services.”

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