Energy Searcher (Northern Offshore Ltd) (Drillship)

Camac Energy announces successful Oyo-8 well

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04 August 2014

CAMAC Energy Inc. (CAMAC) announced today the preliminary results of a successful Oyo field development well offshore Nigeria in OML 120. The Oyo-8 well commenced drilling operations on June 15th, 2014 and has both a vertical and a horizontal section. The vertical section was designed to test for additional hydrocarbons in the previously undrilled Eastern fault block of the Oyo field. CAMAC is pleased to announce Oyo-8 was drilled to a total depth (TD) of 6,059 feet, and successfully encountered four new oil and gas reservoirs with total gross hydrocarbon thickness of 112 feet based on results from the logging-while-drilling (LWD) data, reservoir pressure measurement, and reservoir fluid sampling. The well will now be completed horizontally as a producing well in the Pliocene formation of the Central Oyo field. Oyo-7, which was successfully drilled in October 2013, will also be completed horizontally in the Pliocene formation of the Central Oyo field.

Source: http://www.marketwired.com/press-release/CAMAC-Energy-Discovers-Multiple-Oil-and-Gas-Reservoirs-NYSE%20MKT-CAK-1935061.htm


More News for Operator: Northern Offshore Ltd

15 Sep 2014

Camac halts drilling at Oyo field

CAMAC Energy Inc. (CAMAC) has announced that the company has temporarily halted drilling on the ‘Energy Searcher’ drillship, which is drilling the horizontal portion of the Oyo-8 well in the Oyo field. This was due to leaks in some control system hoses of the well's blow out preventer. Replacement hoses have been ordered and are currently being transported to the drilling site. The Company expects to resume drilling operations within two weeks, while the current offshore installation work continues. As a result of the leaks in the hoses, CAMAC Energy expects the production from the Oyo-8 well in December of 2014, while the Oyo-7 well will now come on production in January 2015.

16 Sep 2014

'Energy Searcher' experiences technical problems

Northern Offshore, Ltd. (Northern) today announced that the drillship ‘Energy Searcher’ under contract in Nigeria, has experienced technical problems with the control hoses to the unit’s blowout preventer. The repairs are underway and are expected to be completed soon allowing operations to resume within two (2) weeks. Northern expects its consolidated financial results for the third quarter 2014 to be negatively impacted by a reduction of approximately forty-five days of revenue for this unit.

29 Sep 2014

'Energy Searcher' resumes normal operations

Northern Offshore, Ltd. (Northern Offshore) today announced that the drillship ‘Energy Searcher’ under contract in Nigeria, resumed normal operations on the 23rd. of September following repairs to the control hoses to the unit’s blowout preventer. The repairs were completed somewhat earlier than previously anticipated and therefore, Northern Offshore now expects its consolidated financial results for the third quarter 2014 to be negatively impacted by a reduction of approximately thirty nine days of zero revenue rather than the forty five days previously estimated.

17 Oct 2014

Keel Laying Ceremony for 'Blue Ocean Drilling Jackup TBN 2'

On the morning of the 17th October 2014, the keel laying ceremony for the H1278 jackup rig was conducted at the Shanghai Waigaoqiao Shipyard (SWS) in China. H1278 is the second Gusto MSC CJ46 jackup being constructed for Blue Ocean Drilling. Dr. Sun Yuanhui - Chairman of Blue Ocean Drilling, Mr. Chen Jun - Vice President of SWS, Mr. Zhang Wei - Chief Offshore Production Officer of SWS, and representatives from ABS’ site office attended the ceremony. The keel laying for H1278 follows the keel laying ceremony for Blue Ocean Drilling’s first jackup that took place on the 10th October.

12 Jan 2015

Northern Offshore cancels 'Energy Searcher' contract

Northern Offshore, Ltd. (“Northern Offshore”) has announced that it intends to file a USD50 million compensation claim against Camac Energy (“Camac”) after cancelling the US operator’s contract for the drillship Energy Searcher. Northern Offshore said in a statement that Camac’s Nigerian affiliate Oceanic Consultants had “breached various terms of the drilling contract” and that is had issued a notice a of contract termination on 2nd January 2015. Camac recently contracted the Sedco Express semisub from Transocean in order to accelerate the tie-in of production from the Oyo-7 and Oyo-8 wells. Northern Offshore hopes to have demobilised the Energy Searcher by the end of January 2015.

31 Mar 2015

Northern Offshore delays delivery of newbuild jackups

Northern Offshore, Ltd. (“Northern Offshore”) today announced it has negotiated a nine month delay in the deliveries of its high specification jackups, Energy Engager and Energy Encounter from the COSCO (Dalian) shipyard in China. The new delivery dates for these units are December 2016 and June 2017 respectively. President and CEO of Northern Offshore Gary Casswell commented “We sincerely appreciate the cooperation of our shipyard to allow us to delay the delivery of these units to enable us to better match contract opportunities in what we believe will be a more robust market at that time. This will allow us to defer approximately USD22 million in owner furnished equipment expenditures for these units from calendar year 2015 to 2016.”

29 Jun 2015

Northern Offshore reaches agreement with CAMAC

Northern Offshore, Ltd. (“Northern”) today announced a development in its subsidiary Northern Offshore International Drilling Company’s (“NOIDC”) Contract Dispute with Oceanic Consultants Nigeria Ltd., Allied Energy Plc, Erin Energy Corporation (formerly CAMAC Energy Inc.) and CAMAC Petroleum Limited (referred to collectively as the CAMAC PARTIES) related to the contract for the Energy Searcher. NOIDC has reached an agreement with the CAMAC PARTIES with respect to the Contract Dispute settling all disputes and claims between NOIDC, NOF and the CAMAC PARTIES. The contract was cancelled by Northern in January 2015.

10 Apr 2017

Construction Delay

Northern Offshore Ltd. (“NOF”), a company incorporated and having its registered offices in Bermuda, is currently building two (2) LeTourneau Super 116E jack-up drilling rigs at COSCO (Dalian) Shipyard Company Ltd.’s (“Builder”) shipyard in Dalian, China. NOF wishes to announce that NOF and Builder have mutually agreed to further extend the rig technical acceptance date of its first Rig, Energy Engager (Hull No. N610) to the end of September 2017 and the second Rig, Energy Encounter (Hull No. N611) to the end of March 2018. NOF and Builder also agreed to delay contract delivery of the Energy Engager and Energy Encounter until a future date determined by mutual agreement. These extensions were agreed upon taking into account the current unfavourable international oil and gas market conditions.

10 Apr 2017

Construction Delay

Northern Offshore Ltd. (“NOF”), a company incorporated and having its registered offices in Bermuda, is currently building two (2) LeTourneau Super 116E jack-up drilling rigs at COSCO (Dalian) Shipyard Company Ltd.’s (“Builder”) shipyard in Dalian, China. NOF wishes to announce that NOF and Builder have mutually agreed to further extend the rig technical acceptance date of its first Rig, Energy Engager (Hull No. N610) to the end of September 2017 and the second Rig, Energy Encounter (Hull No. N611) to the end of March 2018. NOF and Builder also agreed to delay contract delivery of the Energy Engager and Energy Encounter until a future date determined by mutual agreement. These extensions were agreed upon taking into account the current unfavourable international oil and gas market conditions.

4 Oct 2013

Northern Offshore places order for two jackup rigs from unnamed Chinese yard

Northern Offshore has placed an order for two newbuild jackup rigs for delivery in 2016 at an as yet unnamed Chinese shipyard. Both of the units are being built to Letourneau’s Super 116-E design at a cost of less than US$180 million apiece with two additional construction options also included in the contract. Northern are ordering the units on the back of strong global demand for jackup rigs and once the units are delivered they will boost the operator’s jackup fleet to four rigs, following Northern’s decision to sell one of its older jackup rigs the ‘Energy Exerter’ to Ezion Holdings in October 2012.

9 Dec 2013

Northern Offshore secures Letter of Intent for 'Energy Searcher'

Northern Offshore ltd (NOF) has signed a letter of intent (LOI) with Camac Energy for the purpose of contracting the ‘Energy Searcher’ drillship for operations on the Oyo field in Nigeria. The LOI could see the unit contracted to Camac Energy for a two year period, with a 1 year firm contract and an additional 1 year option that can be exercised at a later date. NOF has set a deadline of the 31st December 2013 for executing a definitive contract for the ‘Energy Searcher’, which could earn up to US$100 million for the initial 1 year firm contract. The unit is currently ready stacked in Singapore and has been since it completed its last contract in Vietnam in September 2012.

22 Apr 2014

Camac Energy gives 'Energy Searcher' update

Camac Energy Inc (Camac) today announced an update on the company’s operations in Nigeria. The Northern Offshore ‘Energy Searcher’ drillship, which has been hired by Camac to drill on the Oyo field in Nigeria is currently located offshore Cameroon. The unit is awaiting final clearance by the Nigerian Department of Petroleum Resources (DPR) to enter Nigeria and commence drilling operations. The DPR has finished the necessary inspections of the drillship and it is expected to be issued final clearance imminently, with arrival on the Oyo field expected by the end of April 2014. Camac currently plant to use the ‘Energy Searcher’ for drilling, completion, and production activities on the field. The unit is due to spud the Oyo-8 development well in mid-May, with well-hookup and first production expected in October. The drilling rig will then move to complete and hook-up Oyo-7, with first production expected in November. Both wells continue to be on track to commence production this year, enabling Camac to exit 2014 at an estimated production rate of 14,000 barrels of oil per day.In addition to the development wells offshore Nigeria, the Company has identified 10 exploration prospects and 12 leads, and has currently high-graded three prospects containing unrisked prospective resources in excess of 200 MMBO each. Current efforts are focused on determining the first exploration well location to be drilled in 2015.

5 May 2014

'Energy Searcher' drillship arrives in Nigeria

CAMAC Energy Inc (CAMAC) Energy announced today that the ‘Energy Searcher’ drillship, owned by Northern Offshore Ltd (Northern), has arrived in Nigeria. After taking on personnel, equipment and supplies, the rig will move to the Oyo Field, where it is expected to commence drilling operations on the Oyo-8 well in mid-May. The rig, which is capable of drilling to total depths of up to 25,000 feet, and in water depths of up to 2,500 feet, is under contract for an initial term of one year, which may be extended for an additional one year, to carry out CAMAC’s development program for the Oyo Field and to drill one or more high-impact exploration wells on OMLs 120 and 121 offshore Nigeria.

16 Jun 2014

Oyo-8 development well spudded in Nigeria

CAMAC Energy Inc. (Camac) announced today that the Oyo-8 development well was spudded on June 15th, 2014. The Oyo-8 well is located offshore Nigeria in OML 120, where CAMAC Energy is the operator and owns a 100% working interest. This development well lies within the Oyo field, which was one of the first deepwater oil discoveries made in Nigeria. The Oyo field is located approximately 75km offshore Nigeria in water depths of approximately 300 meters. Oyo-8 will be drilled by Northern Offshore’s ‘Energy Searcher’ drillship to a total depth of approximately 1,800 meters in water depths of approximately 310 meters, and will produce from the Pliocene reservoir. The Oyo-8 well is expected to commence production in the fourth quarter and, together with the Oyo-7 well which will be completed subsequent to the Oyo-8 well, is expected to significantly increase production from the Oyo Field.

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