(Source: Maersk Drilling)
Karoon Energy Ltd. has exercised an option to add the drilling of two development wells at the Patola field offshore Brazil to the work scope of the semi-submersible rig Mærsk Developer, Maersk Drilling said on June 2.
The work is expected to commence in the second half of 2022, in direct continuation of the rig’s previously agreed work scope with Karoon Energy Ltd. The contract extension has a firm duration of 120 days, with a contract value of approximately $27 million.
"We are very pleased to continue to build our partnership with Maersk Drilling through extending our contract with them,” Dr. Julian Fowles, Karoon Energy's CEO and managing director, said. “The Patola development will add materially to our production base and the final investment decision made today represents a key milestone for Karoon in Brazil. The Karoon team looks forward to working closely with Maersk Drilling to deliver both the Baúna workover campaign and the Patola Project safely and efficiently."
Mærsk Developer is a DSS-21 column-stabilized dynamically positioned semi-submersible rig, able to operate in water depths up to 10,000 ft. It was delivered in 2009 and is currently operating offshore Suriname.
Recommended Reading
OMS Energy Files for IPO, Reports Revenue Growth
2024-11-06 - Singapore-based OMS Energy, a wellhead system manufacturer, has not yet determined its price range and number of shares.
Post Oak Backs Third E&P: Tiburon Captures Liquids-rich Utica Deal
2024-10-15 - Since September, Post Oak Energy Capital has backed new portfolio companies in the Permian Basin and Haynesville Shale and made an equity commitment to Utica Shale E&P Tiburon Oil & Gas Partners.
Utica Oil E&P Infinity Natural Resources Latest to File for IPO
2024-10-05 - Utica Shale E&P Infinity Natural Resources has not yet set a price or disclosed the number of shares it intends to offer.
Twenty Years Ago, Range Jumpstarted the Marcellus Boom
2024-11-06 - Range Resources launched the Appalachia shale rush, and rising domestic power and LNG demand can trigger it to boom again.
Sheffield: E&Ps’ Capital Starvation Not All Bad, But M&A Needs Work
2024-10-04 - Bryan Sheffield, managing partner of Formentera Partners and founder of Parsley Energy, discussed E&P capital, M&A barriers and how longer laterals could spur a “growth mode” at Hart Energy’s Energy Capital Conference.