Business
Drilling Rig Substitution
Drilling Rig Substitution.
About this update from Borders & Southern Petroleum Plc
[{"type":"text","content":"\n \nRNS Number : 0583G Borders & Southern Petroleum plc 06 May 2011 \n \n\n \n6 May 2011\nBorders & Southern Petroleum plc\n(B&S or \"the Company\")\n \nDrilling Rig Substitution\n \nBorders & Southern Petroleum plc is pleased to announce that it has signed a new rig contract with Ocean Rig UDW Inc. for the provision of mobile drilling rig services using the Leiv Eiriksson drilling unit. This replaces the previous contract for Ocean Rig's Eirik Raude drilling unit. The substitution is mutually beneficial for both companies.\n \nThe Leiv Eiriksson is the sister vessel of the Eirik Raude. It is a fifth generation, harsh environment , dynamically positioned semi-submersible. The Leiv Eiriksson has recently upgraded its Blowout Preventer to include Casing Shear rams, which gives superior capabilities in the event of a well control event or emergency disconnect. Additionally, the vessel has just completed its DNV 10 year special survey.\n \nThe vessel is likely to be mobilised to the Falkland Islands in October 2011 following the completion of its operations in Greenland. The arrival of the rig and subsequent spud date for B&S's first well is likely to be in December of this year.\n \n \nChief Executive, Howard Obee, commented:\n \n\"We are very happy to have made this rig substitution. In addition to some enhanced technical specifications and an experienced crew, it gives us greater clarity on arrival time, which is important for our logistics planning. \n \n \n \n \n \nContacts:\n \nBorders & Southern Petroleum plc 020 7661 9348 \nHoward Obee, Chief Executive \nwww.bordersandsouthern.com \n \nPanmure Gordon (UK) Limited \nKatherine Roe / Callum Stewart 020 7459 3600\n \nTavistock Communications 020 7920 3150 \nSimon Hudson \n \nNotes:\n \nBorders & Southern Petroleum plc, a London Stock Exchange AIM listed (BOR) company, is engaged in the exploration for oil and gas. The Company is focused on frontier or emerging basins where there is pote...