STENA ICEMAX DRILLSHIP RELEASED BY PROVIDENCE
Providence Resources, the Irish based Oil and Gas Exploration Company, provides an operational update regarding Frontier Exploration Licence 2/14 located in the southern Porcupine Basin. FEL 2/14 is operated by Providence Resources (56%) on behalf of its partners Capricorn Ireland Limited (a wholly owned subsidiary of Cairn Energy PLC, 30%) and Sosina Exploration Limited (14%), collectively referred to as the “JV Partners”. The JV Partners can now confirm that the Stena IceMAX deep-water drillship, which was used to drill the 53/6-1 exploration well in FEL 2/14, has now completed all requisite P&A operations. The drillship, which is now off hire, departed from the Druid Drombeg well site and is transiting back to Las Palmas, Gran Canaria.
Providence hired the IceMAX to drill one well at a daily rate of $185,000. (Source: Providence Resources – Image: Stena)