Proactive Investors Australia
Pura Vida Energy on schedule to drill offshore Morocco oil wells
Pura Vida Energy (ASX:PVD) remains on track to spud its deepwater wells in the Mazagan permit offshore Morocco with the construction and commissioning of the Atwood Achiever ultra-deepwater drill ship.
The first well is expected to spud in January 2015 with the second well scheduled to be drilled in the second half of 2015.
The Atwood Achiever has been contracted to Kosmos Energy (NYSE:KOS) under a three year lease agreement with the drilling of its first well at Cap Boujdour block, offshore Western Sahara, in November this year.
As part of a rig share arrangement with Kosmos, the Atwood Achiever will drill the two wells in Mazagan.
Drilling of the two wells is carried to US$215 million by Freeport McMoRan Oil & Gas (NYSE:FCX).
Mazagan (Pura Vida: 23%) covers 8,717 square kilometres and contains four independent plays with multiple prospects and leads mapped on 2D and 3D seismic data.
DeGolyer & MacNaughton has estimated total mean unrisked prospective resources of 7,015 million barrels of oil.
