1st Feb 2016 14:29
LONDON (Alliance News) - Rockhopper Exploration PLC Monday said its partner offshore the Falkland Islands, Premier Oil PLC, has served a notice to the company that has supplied the drilling rig for the operation claiming the company has breached its obligations.
Premier Oil, as operator of the pair's joint venture offshore the Falkland Islands, has served a notice to the rig contractor, Ocean Rig UDW Inc, for a "breach of material obligations under the drilling contract for the Eirik Raude drilling unit," said Rockhopper.
Rockhopper did not provide any further details and Premier Oil has not released a statement concerning the matter.
The Eirik Raude rig was mobilised to the pair's operations in the North Falklands basin back in February 2015 and was used to drill the Zebedee, Isobel Deep and Humpback wells.
Rockhopper shares were down 0.6% to 31.32 pence per share on Monday afternoon whilst Premier Oil shares were up 96% to 37.25p after its shares resumed trading having been suspended pending an announcement of its deal to acquire the UK North Sea assets of Germany energy group E.ON SE.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
PMO.LRockhopper