Rig 101 gets a new window
Predator Oil & Gas Holdings has amended its drilling contract with Intrepid Drilling Limited, formerly Star Valley Drilling Limited, for Rig 101. The amendment extends the original contract, dated 24 October 2022, to run from 1 August 2026 to 1 October 2026, covering operations on the MOU-6 well in Morocco. Rig 101 is currently stacked at the company's MOU-5 well site.
MOU-6 leads a two-country program
MOU-6 is the first well in a drilling and potential testing program that Predator Oil & Gas Holdings expects to complete over the next three months. Snowcap-3, in Trinidad, follows MOU-6 in the same program. The Jersey-based company runs producing hydrocarbon operations and exploration in both countries, part of the upstream side of the oil and gas business.
Rig 101 is set to begin operations after 1 August 2026, once the remaining third-party consumables and long-lead equipment, now in transit, reach the MOU-6 well site.
CEO points to a rebuilt drilling team
Chief executive officer Paul Griffiths said the company is "entering into a new and exciting phase of drilling activity on two continents." He said the last 15 months went into rebuilding the company's well-delivery team, drawing on expertise from Trinidad, Morocco, Tunisia, and Canada.
Griffiths said the company's well planning and pre-drill programs are compatible with the subsurface conditions identified during its initial drilling between 2021 and 2023. He added that successful drilling and testing of the geological targets may help de-risk gas and oil resources capable of reaching production within a short time frame, subject to regulatory approval and technical and commercial due diligence.
