Rig: Sedco 704

Name Sedco 704
Owner Caledonia Drilling 704 Limited
Manager Transocean Offshore Deepwater Drilling Inc.
Rig Type Semisub
Sub Type Midwater Floater
Jackup Type --
Max Water Depth (ft) 1200
Max Drill Depth (ft) 25000
Dimensions (ft) 300 x 263 x 130
Leg Length (ft) --
Competitive Yes

Current Location

Country --
Region --

Drilling Equipment

Drawworks Type National Oilwell Varco E-3000
Drawworks HP 3000
Mud Pumps Type National Oilwell Varco A-1700-PT Triplex
Top Drive National Oilwell Varco TDS-5H
Hookload Capacity (lbs) 1300000

Rig Construction Details

Rig Design Earl & Wright
Rig Model SEDCO 700
Year Built 1974
Country of Build Canada
Yard Name Halifax Shipyard
Group Yard Name Hawker Siddley Canada Ltd.

Rig Contract Details

Operating Status Retired
Operator

Rig Images

News

20 Jul 2016

Skipper Update

Independent Oil and Gas plc ("IOG" or the “Company”), the development and production focused Oil and Gas Company, is pleased to provide an update on the drilling of the appraisal well on the Skipper oil discovery which lies in Block 9/21a in licence P1609 in the Northern North Sea. The Skipper appraisal well, of which IOG is 100% owner and operator, will be drilled by Transocean’s Sedco 704 semi-submersible drilling rig which is now on contract with IOG and is being towed to the drilling location. Operations are anticipated to commence on 22 July 2016. Further to the announcements on 7 December 2015 and 11 December 2015, the loan agreements signed with GE Oil & Gas UK Limited for £2 million and London Oil & Gas Limited, part of London Group plc for £2.75 million and £0.8 million have been extended to 20 December 2017, in line with a number of other service and equipment contractors on deferred payment terms for all or part of their costs on the Skipper well. No fees have been levied or further warrants granted in achieving this extension. It was previously announced on 14 July 2016 that from 19 July 2016, the number of Ordinary Shares in issue would be 101,546,680. The correct amount is 101,728,498 Ordinary Shares and this number should be used by shareholders going forward as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA’s Disclosure and Transparency Rules.

14 Jul 2016

Skipper Update

Drilling of the Skipper appraisal well, of which IOG is 100% owner and operator, is anticipated to commence on 22 July 2016 and will be drilled by Transocean’s Sedco 704 semi-submersible, which is expected to come on contract on or around 20 July 2016. Skipper lies in Block 9/21a in licence P1609 in the Northern North Sea and IOG is the 100% owner and the appraisal well is expected to take approximately 22 days to drill. The vertical well will be drilled to 5,600ft with the primary objective of retrieving good quality reservoir condition oil samples in order to optimise the Skipper field development plan. The well will also drill two mapped reservoir structures beneath the Skipper oil field in the Lower Dornoch and Maureen formations. The directors of the Company believe an approved field development plan on Skipper would convert the Board’s estimated 34.1 MMBbls of contingent resources, based on a 25% recovery factor, into 2P reserves. Initial results from the well are expected mid-August.

30 Jun 2016

Skipper Appraisal Well Update

Independent Oil and Gas plc ("IOG" or the “Company”), the development and production focused Oil and Gas Company, is pleased to announce that all resolutions were duly passed at the Company's Annual General Meeting held yesterday in London. The Company is also pleased to announce that it expects to take Transocean’s Sedco 704 semi-submersible drilling rig on contract and commence the drilling of the appraisal well on the Skipper oil discovery in the second half of July 2016. Skipper lies in Block 9/21a in licence P1609 in the Northern North Sea and IOG is the 100% owner and operator of the licence. The well is expected to take approximately 22 days to drill. The vertical well will be drilled to 5,600ft with the primary objective of retrieving good quality reservoir condition oil samples in order to optimise the Skipper field development plan. The well will also drill two mapped reservoir structures beneath the Skipper oil field in the Lower Dornoch and Maureen formations. The directors of the Company believe an approved field development plan on Skipper would convert the Board’s estimated 34.1 MMBbls of contingent resources, based on a 25% recovery factor, into 2P reserves.

7 Jun 2016

Skipper Appraisal Well rescheduled for July 2016

Independent Oil and Gas plc ("IOG" or the “Company”), (AIM: IOG.L), is pleased to announce that the appraisal well on the Skipper oil discovery which lies in Block 9/21a in licence P1609 in the Northern North Sea, is scheduled to be drilled in July 2016. Drilling of the Skipper appraisal well, of which IOG is 100% owner and operator, is scheduled for July 2016 and will be drilled by Transocean’s Sedco 704 semi-submersible.

5 Apr 2016

Operations Update: UK Central North Sea Licence P2013

Zennor Pathway Limited is pleased to announce that the Transocean Sedco 704 drilling rig spudded well 21/5c-7 on 5th April. This is an appraisal well on the Finlaggan Discovery. Zennor Pathway Limited (Operator) holds a 100% interest in the Licence.

5 May 2014

Transocean to spin off UK based midwater drilling units into new company

Transocean Ltd (Transocean) announced today that it intends to pursue the creation of an entity comprising eight of its UK North Sea midwater drilling rigs. Transocean expects to establish the new entity, Caledonia Offshore Drilling Company (Caledonia), during the second half of 2014 and, at an appropriate stage, separate Caledonia from Transocean. The offshore drilling assets currently contemplated for transfer to Caledonia include the following rigs:‘Sedco 704’, ‘Sedco 711’, ‘Sedco 712’, ‘Sedco 714’, ‘Transocean John Shaw’, ‘Transocean Prospect’, ‘GSF Arctic II’I and ‘J.W. McLean’. The UK North Sea remains an important market for Transocean and the company is committed to maintaining its presence in the region. As such, various options for the separation of Caledonia are under consideration. Caledonia is expected to have a focused approach to assets and operations in the UK North Sea and it will continue to provide best-in-class service to customers. The creation of Caledonia reflects the continued execution of Transocean's asset strategy to improve the overall capability of its offshore drilling fleet by divesting non-core assets, complemented by the addition of new, high-specification offshore drilling rigs.

6 Jun 2011

Athena Development Drilling Completed

Ithaca Energy Inc. (TSX VENTURE:IAE)(AIM:IAE) announces the final production well on the Athena field has been drilled and fully cased. The well encountered a considerable section of oil saturated net reservoir, with good porosities. Development drilling has now been successfully concluded and the project remains on schedule for production start up in Q4 2011 at approximately 22,000 barrels of oil per day ("bopd") (gross), approx. 5,000 bopd (net to Ithaca), in-line with previous disclosure. Athena field development well 14/18b-A2Z ("the Well") intersected 515 feet (measured depth) of net reservoir in the sub horizontal section of the well bore which was drilled to a total measured depth of 15,497 feet. The drilling rig, Sedco 704, is now proceeding to run completion equipment and perforate the Well, the three existing suspended production wells and the water injection well. The Well was directionally drilled to the northwest of the Athena field where it encountered the principal reservoir section, the Scapa A reservoir, at 11,967 feet (measured depth), 8,851 feet (true vertical depth subsea), in line with prognosis. Electric logs acquired across the entire reservoir section of interbedded Scapa age sandstones and shales confirmed a series of reservoir sands with porosities up to 20%. Two of the thickest, high porosity sandstone units were encountered close to the top of the reservoir section and Management anticipates that these will contribute to strong flow rates when the Well comes into production. A production liner has been run across the reservoir section. The ongoing modification and recertification work on the Floating Production, Storage and Offloading ("FPSO") vessel, BW Athena (currently in dry dock in Dubai) is well advanced. The vessel has been successfully separated for installation of a turret docking section which is currently being welded into the structure amidships. The vessel will be extended by approximately 65 feet. The FPSO will return to UK waters for hook up to the turret mooring buoy by the end of Q3 2011.

7 Mar 2011

Athena field final development well drilling commenced

Ithaca Energy Inc. announces today that the Sedco 704 semi submersible drilling unit has commenced the drilling of the final production well for the development of the Athena field ("Athena"). Well 14/18b-A2 ("the well") is being drilled from the Athena drill centre and is the final well to be drilled of a 180 day campaign of drilling and completion activities. The well is planned to be directionally drilled to produce oil reserves lying in the north west of Athena. In addition, this well is planned to intersect the top reservoir (Top Scapa A sands) at a point within the appraised Athena oil pool and continue north, drilling at a high angle to provide valuable information relating to an area of the field targeted for future development. The drilling and completion of the well as a producer is scheduled to last approximately 80 days. Co-venturers in the Athena are Ithaca (operator, 22.5%), Dyas UK Ltd (47.5%), EWE Aktiengesellschaft (20%) and Zeus Petroleum Limited (10%).

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