Drilling rig contracted for i3 Energy summer campaign
I3 Energy
12.90p
16:45 19/04/24
Independent UK-focussed oil and gas company i3 Energy updated the market on the appraisal and development of its 100% owned-and-operated Liberator field and Serenity prospect on Tuesday, confirming it had contracted the Borgland Dolphin semi-submersible drilling rig for the summer drilling campaign.
FTSE AIM All-Share
745.67
17:08 19/04/24
Oil & Gas Producers
9,468.77
17:10 19/04/24
The AIM-traded firm said drilling was due to begin between 15 July and 15 August, with the campaign expected to “unlock” its asset base.
Three planned wells would include the A3 appraisal well into Liberator's western extension, the Liberator phase 1 L2 pilot well and the S1 appraisal well into the Serenity prospect.
Key equipment had been secured, i3 Energy explained, including wellheads and a conductor pipe, with the site survey set to complete by the end of the week.
“The i3 team is excited to be working with Dolphin Drilling and to be using the Borgland Dolphin rig to conduct what we expect to be a transformational drilling campaign this summer,” said i3 Energy chief executive officer Majid Shafiq.
“We continue to progress all key deliverables to bring Liberator to first oil and expect to provide updates on funding and finalization of offtake terms in due course.”