Rig contracted to drill ST 224 prospect in the fourth quarter of 2017
Monday, Jul 24, 2017
  • W&T Offshore, Inc. (Operator) has contracted the Enterprise Offshore 264 jackup rig to drill the ST 224 gas condensate prospect, with spud expected in Q4 2017.
  • The Initial Exploration Plan for the ST 224 prospect has been submitted and approved by the Bureau of Ocean Energy Management (BOEM). 

Otto Energy Limited (‘Otto’ or the ‘Company’) is pleased to advise that the Operator of ST 224, W&T Offshore, Inc. (“W&T”), has contracted the Enterprise Offshore 264 jackup rig to drill the ST 224 prospect. The well is expected to commence drilling in Q4 2017.

In addition, W&T advises that the Initial Exploration Plan for the ST 224 prospect has been submitted and approved by BOEM. The prospect sits in approximately 170 feet of water.

Otto announced on 3 July 2017 that it had farmed in to the ST 224 lease in the Gulf of Mexico with a 25% working interest.
 
Several existing production platforms fall within tie‐back distance of the proposed well, enhancing economics and making development of any discovered hydrocarbons both quick and cost effective.

Otto’s Managing Director, Matthew Allen, commented: “We are excited to confirm Enterprise Offshore’s 264 jackup rig has been contracted by W&T Offshore to drill the compelling ST 224 gas/condensate prospect in Q4 2017.
 
With SM 71, ST 224 and Bivouac Peak, Otto has a pipeline of compelling Gulf of Mexico Shelf exploration and development projects to pursue through 2017 and 2018 in line with our strategy.”

For more information, please visit:  http://www.ottoenergy.com

For additional information on this project, please visit our ProjectsOGP database
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