A Review of the Nigerian Energy Industry

US firm, Hyperdynamics, resumes drilling off Guinea

29 December 2011, Sweetcrude, HOUSTON – Houston-United States-based Hyperdynamics says it has restarted drilling operations at the Sabu-1 exploration well off Guinea.

But, the New York-listed independent did not disclose the day drilling resumed at the well after operations were suspended two weeks ago.

Drilling resumed from a depth of 1440 metres subsea and will continue to a planned total depth of 3600 metres, the company wrote in a bourse statement on Wednesday.

News of the resumption sent the compaany’s shares up almost 10%.

Hyperdynamics revealed on 14 December that drilling had stopped at the well due to mechanical and operational problems.

“We believe the issues are being resolved and we expect resumption of drilling activities in approximately 10 days,” a statement read at the time.

Hyperdynamics announced in October the spudding of Sabu-1, which lies in about 760 mteres of water off the West African nation. The company is using the dynamically positioned drillship Jasper Explorer to drill the well with a target depth of about 4000 metres.

Hyperdynamics operates the Guinea concession with a 77% participating interest. Aberdeen-based Dana Petroleum, a wholly owned subsidiary of the Korean National Oil Company, holds the remaining 23%.

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