Rig: Pacific Bora

Oyo-9 Drilling Update

Erin Energy has provided an update for the Oyo-9 development well to be drilled offshore Nigeria. The Pacific Bora is now expected to mobilise to location and spud the well by the end of July. According to Erin Energy, Pacific Drilling has confirmed that the Pacific Bora will be ready for deployment. The contract on the Pacific Bora includes one firm well and two optional exploration wells. The day rate for the rig is US$195k/day.

Update on Fatala-1 preperations

Hyperdynamics Corporation (OTCQX: HDYN) announced today that SCS Corporation Ltd. ("SCS"), its wholly owned subsidiary, has signed a Master Service Agreement ("MSA") with Schlumberger to provide essential drilling services for the deepwater exploration well planned for the second calendar quarter of 2017 offshore the Republic of Guinea. "With the signing of this agreement with Schlumberger, we now have the critical equipment and most of the drilling services contracts in place to enable us to begin drilling the Fatala-1 deepwater exploration well this spring," said Ray Leonard, Hyperdynamics President and Chief Executive Officer. "Schlumberger is the world's leading provider of oilfield services and equipment to the upstream industry. No one has more experience than Schlumberger in helping oil and gas operators safely and successfully drill for hydrocarbons in some of the deepest waters around the world. "With Schlumberger as integrated project manager for drilling services -- and with Pacific Drilling providing a modern deepwater drillship with an experienced crew -- we have assembled a world-class contingent of equipment, services and highly experienced manpower." Under the MSA, Schlumberger will be the primary provider of services to drill the Fatala-1 well. The estimated value of the MSA for the Fatala-1 well is approximately U.S. $4.5 million. "We are also advancing our discussions with several global oil companies that could farm into a significant portion of our project working interest, provide additional technical expertise and share the project costs and risks," Mr. Leonard added. Hyperdynamics has also achieved other key milestones as it prepares to begin drilling operations.

Pacific Drilling confirm extension for 'Pacific Bora'

Pacific Drilling S.A. announced today that Star Deep Water Petroleum Limited, an affiliate of Chevron, has signed a firm contract extension for the ‘Pacific Bora’. As previously announced in the company’s recent Fleet Status report (6th August 2014), the contract extension increases the drillship’s backlog by approximately USD439 million, bringing the company’s total contract backlog as of Aug. 22nd, 2014, to UDS3.0 billion.

'Pacific Bora' contract extension dayrate decreased

In the latest version of its monthly fleet report, released on the 15th July 2014, Pacific Drilling has announced a reduction in the dayrate for the ‘Pacific Bora’ drillship. The unit, which is expected to begin a two year extension of its current contract with Chevron in Nigeria on the 26th August 2014, is now expected to garner a dayrate of USD585,860 compared to the previously anticipated rate of USD615,000. Whilst the rate has been slightly reduced, it will be the second largest rate earned by an operational Pacific Drilling drillship behind the ‘Pacific Khamsin’s’ current rate of USD660,000.

Pacific Drilling Announces Pacific Bora Operations Commencement

Pacific Drilling S.A. (NOTC: PDSA) announced today that its ultra-deepwater drillship the Pacific Bora commenced operations at the Agbami Field in Nigeria on August 10, 2011. The rig is contracted for three years to a wholly owned Chevron subsidiary. The Pacific Bora is capable of operating in water depths of up to 10,000 feet and drilling wells 37,500 feet deep.

Pacific Drilling Announces Pacific Bora Operations Commencement

Pacific Drilling S.A. (NOTC: PDSA) announced today that its ultra-deepwater drillship the Pacific Bora commenced operations at the Agbami Field in Nigeria on August 10, 2011. The rig is contracted for three years to a wholly owned Chevron subsidiary.

Pacific Bora Awarded Initial 3-year Contract with Chevron

Pacific Drilling is pleased to announce that the Pacific Bora has been contracted to Star Deep Water Petroleum Limited, a wholly owned Chevron subsidiary to work on the continued development of the Agbami Field in Nigeria. Total revenue from the contract is expected to be approximately $585million over the initial three year term. The rig is expected to mobilize to Nigeria in late February upon completion of client requested enhancements to facilitate completion activities. This represents Pacific Drilling’s second contract with a Chevron subsidiary, including the previously announced contract for the Pacific Santa Ana, which is contracted to provide the first commercial application of Dual Gradient Drilling. Dual gradient techniques use a pump or other method to reduce the hydrostatic head from the mudline to the surface to that of seawater. Pacific Drilling has two further ultra-deepwater drillships (Pacific Scirocco and Pacific Mistral) under construction at Samsung Heavy Industries, both of which are on target for on time delivery in March 2011 and May 2011 respectively, and are the subject of advanced discussions with various clients.

Pacific Drilling secure initial three year contract for 'Pacific Bora'

Pacific Drilling is pleased to announce that the ‘Pacific Bora’ has been contracted to Star Deep Water Petroleum Limited, a wholly owned Chevron subsidiary to work on the continued development of the Agbami Field in Nigeria. Total revenue from the contract is expected to be approximately USD585million over the initial three year term. The rig is expected to mobilize to Nigeria in late February upon completion of client requested enhancements to facilitate completion activities. This represents Pacific Drilling’s second contract with a Chevron subsidiary, including the previously announced contract for the ‘Pacific Santa Ana’, which is contracted to provide the first commercial application of Dual Gradient Drilling. Dual gradient techniques use a pump or other method to reduce the hydrostatic head from the mudline to the surface to that of seawater. Pacific Drilling has two further ultra-deepwater drillships (‘Pacific Scirocco’ and ‘Pacific Mistral’) under construction at Samsung Heavy Industries, both of which are on target for on time delivery in March 2011 and May 2011 respectively, and are the subject of advanced discussions with various clients.

Pacific Bora Contract

In November 2010, Pacific Drilling converted a previously agreed Letter of Intent to a definitive contract for the Pacific Bora drillship with a major international oil company for operations in Nigeria. The term of the contract is three years, with two additional one year options. The Pacific Bora is a sixth generation ultra deepwater drillship with off-line handling. It will travel to Nigeria through Cape Town once it has finished commissioning in the KAHN shipyard.

Pacific Bora Delivery

On October 13, 2010 the Pacific Bora was delivered to Pacific Drilling by Samsung Heavy Industries. The Bora is a sixth generation ultra deepwater drillship. After the Bora was delivered by Samsung heavy Industries, it moved to the KAHN shipyard until January 2011, where it is currently undergoing scheduled modifications to enhance its completions capabilities.