Hyperdynamics Corporation has received an improved exploration risk assessment of the Fatala 1 and Buried Hill 1 deepwater prospects, increasing its chances of a successful drilling operation offshore Guinea, Ecofin Agency reported.
The company has also signed a definitive drilling services contract with Pacific Drilling to engage the Pacific Bora drillship, Offshore Energy Today informed.
The assessment came after the reprocessing of 3D seismic data by eSeis on the two prospects, by means of a more advanced technology that produced perfect images of the geologic characteristics of the projects. Through this imaging, Netherland, Sewell & Associates (NSAI) was able to increase the chances of success for the Fatala 1 prospect from 25% to 31%, and for the Buried Hill 1 prospect from 20% to 24%.
Concerning the drilling, the company will use the drillship for a drilling campaign offshore the Republic of Guinea, starting in the second calendar quarter of 2017. The definitive services deal follows a letter of award Hyperdynamics had signed in October with Pacific Drilling. At the time, Hyperdynamics President and CEO, Ray Leonard, said that the day rate for the drillship would be $225,000 per day.