16th Feb 2017 08:42
LONDON (Alliance News) - 88 Energy Ltd said Thursday it has contracted use of a drilling rig for a well at its Project Icewine site in Alaska.
88 Energy said that Doyon Drilling Inc's 'Arctic Fox' rig is expected to move to the Icewine 2 appraisal well between March 30 and April 30, following completion of drilling operations on nearby acreage.
Therefore the 'spud' date of first drilling has been moved back from the initial plan of late in the first quarter of 2017, to early in the second quarter.
"We are delighted to be working with Doyon for the upcoming drilling of Icewine#2. The Arctic Fox is one of the premier rigs on the North Slope and will be coming to us 'warm' off its current job, which has several significant benefits," said Dave Wall, managing director of 88 Energy.
"As soon as the Arctic Fox finishes work associated with its current job, we will be ready to start mobilisation and rig up for Icewine#2. Spud is now scheduled for a few short weeks post our initial plan of late Q1 2017," added Wall.
Shares in 88 Energy were up 0.1% at 2.40 pence Thursday morning.
By Adam Clark; [email protected]
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