As a partner in the WA-424-P Joint Venture, IPB Petroleum says it has been informed that the Stena Clyde drilling rig departed the Puffin field location this morning (November 4) and that the rig is currently under tow to the Pryderi-1 location in WA-424-P, offshore Western Australia.
After two delays in rig delivery, IPB Petroleum has recently informed that the estimated start date for the Pryderi-1 rig contract is due late October to early November 2014.
WA-424-P is a Joint Venture between IPB 75% and CalEnergy 25%, the operator.
IPB Petroleum estimates that the Stena Clyde will arrive at the Pryderi-1 location later this week with spudding to start shortly thereafter.
The company says it will make a further announcement when this occurs.
Pryderi-1 is a relatively shallow well and based on the current schedule IPB estimates that the target reservoir will be intersected within a week of spudding the well.
Following logging this Pryderi-1 well will then be plugged and abandoned.