Rockhopper Exploration Falkland drill comes to an end
Rockhopper Exploration (LON:RKH) this morning confirmed that its Falkland drilling campaign has now finished.
The Ocean Guardian drilling rig has now been towed successfully from the final well location and is now off hire, Rockhopper said. Operations at the 14/15-4 joint venture well were completed on January 8.
"This marks the end of what has been a highly successful and safe drilling campaign," said chief executive Sam Moody.
"We have operated ten wells, conducted two Drill Stem Tests, two short offset sidetracks and collected in excess of 450 metres of core with the Ocean Guardian on hire to us for a total of 397 days.
"I would like to thank the entire Rockhopper team and our contractors for their efforts which have resulted in seven successful wells of our ten drilled, with three oil discoveries, three gas discoveries, multiple successful Sea Lion appraisal wells and a successful appraisal well on Casper."
Rockhopper says it will have more than US$100 million in cash available, once all drilling costs have been accounted for.
The Sea Lion oil discovery is the most advanced asset in the waters off the Falkland Islands. After a successful appraisal drilling campaign last year, the focus is on engineering and financing as it moves towards a final investment decision for a future oilfield development project.
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