Leo (BW Energy Holdings Pte. Ltd.) (Semisub)

Aquadrill Announces Sale of the Leo

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26 October 2021

Aquadrill LLC ("Aquadrill” or the “Company") has entered into an agreement for the sale of a semisubmersible drilling unit, the “Leo”, with a subsidiary of BW Energy (the “Buyers”) for USD 14 million. The rig is expected to be repurposed as a Floating Production Unit, thereby removing the rig from the drilling market.

Source: https://www.aquadrilloffshore.com/investor-relations/news-releases/detail/?id=1F7AA854002D1C13


More News for Operator: BW Energy Holdings Pte. Ltd.

17 Jan 2013

Tullow Oil exercises 'West Leo' contract option

Seadrill have announced that Tullow Oil has exercised a two year contract option that the company had on the West Leo semi-submersible drilling unit for continued operations in Ghana, at a value of US$450m from May 2016 through to May 2018. The West Leo has worked for Tullow Oil in Ghana since it was delivered to Seadrill and began its current contract in April 2012. The unit is expected to remain in the region whilst it is contracted to the company.

2 Dec 2013

Seadrill sells two semisubs to Seadrill Partners LLC

Seadrill Ltd (Seadrill) has entered into an agreement with Seadrill Partners LLC to sell two working semisubmersible drilling rigs to the recently spun off rig manager. Seadrill Partners LLC will purchase the ‘West Leo’ and ‘West Sirius’ units from Seadrill through a series of purchases, contributions and assumption of debts associated with the two rigs. The implied purchase price of the ‘West Leo’ is US$1.25 billion, whilst the ‘West Sirius’ implied cost is US$1.035 billion. Both assets have good long term contracts attached with the ‘West Leo’ currently contracted to Tullow Oil in Ghana until 2018 and the ‘West Sirius’ is working in the US GoM for BP and is contracted through to July 2019.

18 Dec 2013

Paon-2A well result offshore Côte d’Ivoire

Tullow Oil plc (Tullow) announces that the Paon-2A appraisal well in the CI-103 licence offshore Côte d’Ivoire has determined the down-dip extent of the Paon oil accumulation. The well encountered the water below the oil accumulation discovered at the Paon-1X well and pressure logging has located the likely oil water contact. To minimise the number of appraisal wells, Paon-2A was located 15km south west and approximately 370 metres down-dip of the Autruche light oil discovery made by the Paon-1X well in 2012. The well encountered Upper Cretaceous reservoir sandstones which were water bearing at this location. Pressure data from the Autruche age reservoirs intersected in Paon-2A indicate that the Autruche oil accumulation between this well and Paon-1X has a hydrocarbon column of at least 230 metres. Following completion of logging operations the well will be plugged and abandoned. The Seadrill West Leo dynamically positioned semi-submersible drilled Paon-2A to a final depth of 5,380 metres in water depths of 2,366 metres. Tullow (15% plus a 15% carried interest) operates the CI-103 licence and is partnered by Anadarko Petroleum (55%) and the Societé Nationale d’Opérations Pétrolières de Côte D’Ivoire (Petroci) (5% plus a 10% carried interest).

30 May 2013

Calao-1X exploration well encounters non-commercial condensate in Côte d’Ivoire

Tullow Oil plc (Tullow) announces that the Calao-1X exploration well in the CI-103 licence offshore Côte d’Ivoire, where Tullow is operator and has a 30% carried interest, has encountered thin condensate/gas bearing reservoirs in an Upper Cretaceous deepwater channel system. The well is the second deepwater exploration well drilled in the CI-103 licence and targeted an Upper Cretaceous channel system northwest of the Paon-1X oil discovery, which was drilled in 2012. Good quality reservoir sandstones were found in this objective but they were water bearing at this location. Approximately 5m of condensate/gas bearing sandstones were found in a deeper objective. The well was then sidetracked, targeting a better developed reservoir unit down-dip. Good quality water bearing sandstones were intersected at that level in the sidetrack. Pressure data indicates that this zone may be in communication with the condensate encountered in the original Calao-1X well. Following completion of logging operations the well will be plugged and abandoned. The Seadrill West Leo dynamically positioned semi-submersible drilled Calao-1X to a final depth of 4,570 metres in water depths of 1,906 metres. The Sidetrack was then drilled to a final depth of 4600m below sea level. Tullow (30% carried interest) operates the CI-103 licence and is partnered by Anadarko Petroleum (55%) and the Societé Nationale d’Opérations Pétrolières de Côte D’Ivoire (Petroci) (5% plus a 10% carried interest).

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