Rig: Transocean John Shaw

Name Transocean John Shaw
Owner Transocean Deepwater Drilling Inc.
Manager Transocean Offshore Deepwater Drilling Inc.
Rig Type Semisub
Sub Type Midwater Floater
Jackup Type --
Max Water Depth (ft) 1800
Max Drill Depth (ft) 25000
Dimensions (ft) 281 x 212 x 116
Leg Length (ft) --
Competitive Yes

Current Location

Country --
Region --

Drilling Equipment

Drawworks Type Continental Emsco C3 Type II
Drawworks HP 3000
Mud Pumps Type Continental Emsco FB-1600 Triplex
Top Drive National Oilwell Varco TDS-3H
Hookload Capacity (lbs) 1400000

Rig Construction Details

Rig Design Friede & Goldman
Rig Model Enhanced Pacesetter
Year Built 1982
Country of Build Japan
Yard Name Tamano Shipyard
Group Yard Name Mitsui Engineering & Shipbuilding Co., Ltd.

Rig Contract Details

Operating Status Retired
Operator

Rig Images

News

28 Jan 2016

Extension of Skipper Licence

Independent Oil and Gas plc ("IOG" or the "Company") (AIM: IOG.L), the North Sea focused oil and gas company, is pleased to announce that following discussions with the UK Oil & Gas Authority (“the OGA”), the Skipper Licence P1609 Block 9/21a has been formally extended until 31 December 2016. As previously indicated, IOG intends to drill the appraisal well as soon as economic conditions allow.

12 Jan 2016

Rescheduling of Skipper Well

Following recent oil price movements and bad weather in the North Sea, IOG believes that it is in the best interests of shareholders that the Skipper appraisal well is delayed until there is greater stability and clarity in the oil market. The existing timetable for drilling Skipper in Q1 2016 requires the announced loans and contractor deferral funding to be repaid by IOG at the end of 2016. IOG now considers this refinancing risk to be increased due to the very weak commodity prices and negative market sentiment towards oil and gas. Moreover, the very bad weather in the North Sea has increased concerns that significant delays could be encountered or a sub-optimal well result may be achieved. Therefore, the Board believes that drilling in a more favourable weather window with at least some improvement in market sentiment would be prudent. The Company now anticipates the Skipper appraisal well to be drilled later this year. To achieve this revised timetable, IOG will need agreement from its principal lenders and contractors and agreement from the OGA to extend the Skipper licence beyond 30 March 2016. These critical discussions are ongoing.

14 Dec 2015

Rig Contract Signed – Funding Secured for Skipper Drilling in the New Year

Independent Oil and Gas plc ("IOG" or the “Company”), the North Sea focused oil and gas company, is pleased to announce it has signed a Rig Contract with Transocean Drilling U.K. Limited (“Transocean”) to procure the Transocean John Shaw semi-submersible rig to drill the Company’s fully funded appraisal well on the Skipper oil discovery in Block 9/21a in the Northern North Sea in licence P1609. IOG anticipates that the rig will commence drilling operations at Skipper in late January or early February 2016 with the objective of retrieving good quality reservoir condition oil samples in order to design the optimum field development plan for the Skipper field. The rig will drill a vertical well to 5,600ft which is expected to take approximately 25 days. Skipper is an offshore heavy oil field located in the Northern North Sea with independently verified gross 2C resources of 26.2 MMBbls. IOG management estimates that Skipper has 34.1 MMBbls of recoverable oil based on a recovery factor of 25%, compared to the historic CPR estimate of 19%. The well will also target two exploration prospects directly beneath the Skipper oil discovery in the Lower Dornoch and Maureen formations, in which the CPR authors have mapped structures which could contain an additional 46 MMBbls of oil in place. (Source: AGR Tracs CPR dated September 2013.) If oil is present in these structures, it would be co-developed with Skipper in line with the Company’s hub strategy. IOG intends to drill the Skipper well as 100% owner, which requires completion of the Sale and Purchase agreement to acquire 50% of the licence from Alpha Petroleum Ltd (“Alpha”). As previously announced, the deadline for the completion of this agreement has been extended to 21 December 2015. The Company also requires the Oil and Gas Authority ("OGA") to approve IOG North Sea Limited as licence operator and AGR Well Management Limited ("AGR") as well operator.

14 Dec 2015

Rig Contract Signed – Funding Secured for Skipper Drilling in the New Year

Independent Oil and Gas plc ("IOG" or the “Company”), the North Sea focused oil and gas company, is pleased to announce it has signed a Rig Contract with Transocean Drilling U.K. Limited (“Transocean”) to procure the Transocean John Shaw semi-submersible rig to drill the Company’s fully funded appraisal well on the Skipper oil discovery in Block 9/21a in the Northern North Sea in licence P1609. IOG anticipates that the rig will commence drilling operations at Skipper in late January or early February 2016 with the objective of retrieving good quality reservoir condition oil samples in order to design the optimum field development plan for the Skipper field. The rig will drill a vertical well to 5,600ft which is expected to take approximately 25 days. Skipper is an offshore heavy oil field located in the Northern North Sea with independently verified gross 2C resources of 26.2 MMBbls. IOG management estimates that Skipper has 34.1 MMBbls of recoverable oil based on a recovery factor of 25%, compared to the historic CPR estimate of 19%. The well will also target two exploration prospects directly beneath the Skipper oil discovery in the Lower Dornoch and Maureen formations, in which the CPR authors have mapped structures which could contain an additional 46 MMBbls of oil in place. (Source: AGR Tracs CPR dated September 2013.) If oil is present in these structures, it would be co-developed with Skipper in line with the Company’s hub strategy. IOG intends to drill the Skipper well as 100% owner, which requires completion of the Sale and Purchase agreement to acquire 50% of the licence from Alpha Petroleum Ltd (“Alpha”). As previously announced, the deadline for the completion of this agreement has been extended to 21 December 2015. The Company also requires the Oil and Gas Authority ("OGA") to approve IOG North Sea Limited as licence operator and AGR Well Management Limited ("AGR") as well operator.

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