Offshore oil exploration company Hyperdynamics has signed a definitive drilling services contract with Pacific Drilling to engage the Pacific Bora drillship.
The company will use the drillship for a drilling campaign offshore the Republic of Guinea, starting in the second calendar quarter of 2017.
“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.”
The definitive drilling services deal follows a letter of award Hyperdynamics had signed in October with Pacific Drilling. At the time, Leonard said that the dayrate for the drillship would be $225,000 per day.
Commenting on Thursday, Leonard said: “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.
Having previously worked for Chevron in Nigeria, the Pacific Bora is currently located in West Africa. It is expected to arrive shortly before the target spud date for the Fatala-1 well, Hyperdynamics said.