Seadrill Partners Signs Contract for West Capricorn Drilling Campaign

Graphic for News Item: Seadrill Partners Signs Contract for West Capricorn Drilling Campaign

Offshore Drilling Contractor / Owner ‘Seadrill Partners’ has successfully strikes a one well deal with Kosmos Energy in Gulf of Mexico Operations.

Backlog for the contract is expected to be approximately $10 million and commencement is expected in Q4 2019, said SDLP.

In addition, Seadrill Partners LLC (“SDLP” or the “Company”) announced on 18th April that, company received an early termination notice for the West Capricorn contract approximately three months ahead of schedule from BP. The contract was originally expected to run through late July 2019.

Seadrill Partners was also expecting to receive early termination payments over the original contract term and backlog is expected to decrease by $18 million at that time.

Furthermore, Kosmos Energy (NYSE: KOS) (LSE: KOS) on 4th June, 2019 announced the oil discovery from Gladden Deep (Kosmos 20% working interest).

KOS said, Gladden Deep is a sub-sea tie back which is expected to be brought online through the existing Gladden pipeline to the Medusa spar in the fourth quarter of 2019. Based on preliminary analysis of drilling and wireline logging results the recoverable resource is expected to be in line with the pre drill estimate of 7 mmboe gross.

Gladden Deep is the first well of a four well infrastructure-led exploration (ILX) program in the U.S. Gulf of Mexico in 2019. Kosmos will drill the Moneypenny prospect in the third quarter, followed by the Oldfield and Resolution prospects in the fourth quarter. These three prospects are collectively targeting around 100 mmboe net to Kosmos.

It is possible West Capricorn, a Fried & Goldman ExD millenium designed 2011 build semi-submersible drilling rig and capable to drill upto 11,400 m depth, to be used on Gladden Deep.


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