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SDRL - Seadrill secures contract for semi-tender newbuild

Hamilton, Bermuda, December 27, 2011- Seadrill has been issued a letter of award by Hess Equatorial Guinea, Inc. to enter into an eight well drilling contract offshore Equatorial Guinea for the semi-tender rig West Esperanza. The anticipated contract duration is a minimum of 18 months, with corresponding potential revenues of approximately $127 million plus mobilization fee. West Esperanza, which Seadrill ordered on speculation in June 2011, is currently under construction at Keppel FELS yard in Singapore. Construction is scheduled for completion in early second quarter of 2013. Following mobilization from Singapore to Equatorial Guinea, the rig is scheduled to commence operation at the end of the second quarter of 2013.

Alf C Thorkildsen, CEO in Seadrill Management AS, says in a comment, "We are delighted to have agreed our first operation for Hess in Africa. This award represents our first tender rig operation in Equatorial Guinea and grows the international footprint of the tender rig concept. Furthermore, the assignment confirms our strong market position within this segment and demonstrates the high demand for new premium offshore drilling equipment."

Tiedotteessa on mainittu spomimuksen minimi kesto, muttei maksimia. 550 päivällä liikevaihtoa tulisi $230,000 per päivä. Tuollaisilla DR:llä alus maksaa itsensä takaisin neljässä ja puolessa vuodessa.

Bassdrillin syyskuisessa presentaatiossa on varsin kattavasti tendereistä ja vieläpä Seadrillin tendereistä.
Semi-tendereillä on suurin piirtein perus jackupin rakennus- ja operointikustannukset, mutta 20-40% korkeammat päivätaksat. Heikkoutena se, että alus edellyttää erillisen tasanteen porausta varten, joten se ei ei sovellu laisinkaan exploration-poraukseen. Hessin jobi näyttää edellyttävän vähintään 1,650 jalan syvyisessä vedessä porailua, joten semi-tenderin vaihtoehtona on $250,000 DR:n kelluva alus. Semi-tenderin käyttö näyttäisi säästävän operaattorille vähintään 7 miljoonaa dollaria per vuosi, mikä ei ole merkityksetön summa.

Hessiä lykästää Ghanassa

Skriptistä:

With regard to exploration, we thought it appropriate to provide an update on the Paradise prospect in Ghana. As we have previously commented, we are drilling this prospect in 6,038 feet of water on the deepwater Tano Cape Three points block. Hess is carrying 100% of the well costs and has a 90% working interest. The Ghana National Petroleum Corporation has the remaining 10% interest.

While results are preliminary, intermediate wire line logs indicate that we have thus far encountered 370 feet of net hydrocarbon pay in 2 separate intervals. Our current plan is to drill an additional 1,100 feet to test a third stratigraphic interval, reaching a total depth of approximately 16,400 feet.

"France shale permits to be 'scrapped'"

Upstream:

French Prime Minister Francois Fillon said today that permits granted to explore potential shale fields in France must be cancelled and that the whole issue must be reviewed from the start.

TRGL näyttää ottaneen hieman nenukkiinsa. Itselläni salkuissa Lundinia ja Vermilionia, mutta näissä yhtiöissä on runsaasti substanssia ilman Liasin tiukkaa öljyä, joten niiden kurssit eivät tähän ole reagoineet mitenkään.

Ruottalainen Tethys Oil ilmoitti tänään hankkineensa reilun kolmanneksen osuuden Paris Basinin itäpuolella olevasta blokista. Tiedotteessa mainitaan jostain syystä kahdesti "conventional oil". Yrittävätkö vakuutella paikallisia vai vihjailla sijoittajille jotain?
Olen muuten ollut jo neljä vuotta Tethyksen postilistalla, mutta en ole missään vaiheessa omistanut yhtiötä. Ainuttakaan toimariakaan en ole osakkeista tehnyt.

Tällainen pätkä tuli vastaan viime viikolla:

A joint French Ministry press release issued on February 11,
2011, indicates that Vermilion is currently producing
approximately 63 boe/d from two previously stimulated vertical
wells in the Liassic shale in France. VET has approximately
176,000 net acres of land in the Paris basin and is in the process
of acquiring rights to up to 636,000 additional net acres.

Exxon ei osaa porata

'Guarani well drilled in wrong spot'

The Guarani well, which was drilled by US supermajor ExxonMobil in Brazil's pre-salt fairway and came up dry, was spudded "in the wrong place” Brazilian Energy Minister Edison Lobao has claimed.

State-run Petrobras recommended the Guarani well be drilled in a different location, Lobao said today in an interview in Brasilia.

“The dry well occurred because they drilled in the wrong place. It was a mistake,” he said in an interview with Bloomberg. “There is no risk with the pre-salt...”

Huh! Brasilialainen poliitikko meinaa että kun Exxon ei löytänyt öljyä Brasilian vesiltä vika on Exxonissa ei varsinaisesti öljyn puutteessa. Lobaota ilmeisesti informoinut Petrobras on Santosin-altaan suolanalaisen kerroksen geologian ehdoton ekspertti, mutta tämä kyllä hieman tuoksahtaa. Xomin tapoihin ei ole kuulunut porailla kymmenien miljoonien tyhjiä reikiä ja yhtiön insinöörit ja geologit lienevät maailman parhaimmistoa. No jos blokkiin porataan kolmas kaivo selviää niin viimeistään silloin selviää hajun lähde.

50 miljoonan reikä

"Guarani well off Brazil disappoints"

"US player Hess said the Guarani appraisal well on the BM-S-22 licence in the Santos Basin offshore Brazil showed disappointing results..."

Itseasiassa tämän kaivon hinta taitaa olla korkeampi. BM-S-22 operaattori Exxon vuokrasi Seadrillin West Polariksen edelleen Petrobrasille jo pari viikkoa sitten, joten tätä saattoi odottaa. Seadrillille ei mikään erityisen negatiivinen juttu, mutta Exxonille, Hessille ehdottomasti. Ja jossain määrin myös PBR:lle.

Hess Corp. sees enormous opportunity in Bakken

Hess Corp. CEO John Hess's comments on the Bakken from the Credit Suisse presentation on the 5th of February

*the number rigs employed by Hess in the Bakken reduced by half this year

*Bakken is profitable with WTI at $45

*Enormous opportunity to grow reserves over time

The purchase of Talisman's Bakken assets by Crescent Point looks like a great move.

The presentation is available here.

XOM hits paydirt in Brazil

ExxonMobil Notifies Brazil ANP of 2nd Find at BM-S-22

"The Brazilian unit of global oil titan ExxonMobil Corp. notified Brazil's National Petroleum Agency that it had made a second oil discovery at the BM-S-22 offshore block.

In a routine filing with the ANP, Exxon said that it had once again discovered traces of oil in a well drilled in the Santos Basin's BM-S-22 block. In January, Exxon said it had discovered oil in the same 1ESSO3SPS well.
ExxonMobil's local press office confirmed that discovery, which was dated Feb. 17 but posted on the ANP's Web site late Tuesday, was new but declined to give any further details. It's unclear if the find was made after deeper drilling of the well."

"The BM-S-22 block was the last to be drilled in a promising region that could hold deposits of up to 33 billion barrels of oil equivalent, or BOE, government officials have said. The block is part of a cluster of four blocks that contain a gigantic geographical structure, which industry experts and analysts believe could contain several discoveries the size of Petrobras' Tupi find."

News(Oil-Gas-Offshore)

ExxonMobil tastes oil at 'mega prospect'

"US supermajor ExxonMobil has notified Brazilian regulatory authorities that it has detected hydrocarbons on a deep-water pre-salt prospect that is billed as the biggest yet in the emerging Santos basin province."

"Marcio Mello, a respected Brazilan petroleum geologist who worked on the pre-salt concept with Petrobras before setting up his own consultancy, has predicted that Azulao alone will land the BM-S-22 with recoverable reserves of more than 10 billion barrels."

NZ Sees Bright Future with Major Offshore Oil Finds

"Confirmation of large oil fields in the offshore waters of New Zealand could provide a step change in national income for the country, an energy briefing to the new Minister of Energy and Resources Gerry Brownlee says.

The Vote Energy briefing from the Ministry of Economic Development made public by Brownlee, says there are potentially several 1-10 billion barrel oil fields in the Great South Basin alone.
Any discoveries would perhaps allow New Zealand to follow in the economic footsteps of Norway and emerge as a serious source of energy for the world, the briefing says..."

Tullow Makes 17 Discos in '08, Boasts 100% Exploration Success in Africa

"100% exploration success in 2008 in Ghana and Uganda. 17 discoveries from 22 wells in overall drilling program;
In Ghana, Jubilee field appraisal confirms major resource potential of up to 1.8 billion barrels and a most-likely case of up to 1.2 billion barrels"

Lebanon cautions over Israeli gas discovery

"The discovery, which may be the largest ever made by operator Noble Energy, is in the Matan license offshore Israel. The Tamar No. 1 well, in water depths of around 5,500 feet (1,676 m), was drilled to a total depth of 16,076 feet (4,899 m) by Atwood Oceanics semi Atwood Hunter"

Bid for Basra autonomy vote fails