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Erin Energy executed a drilling services contract with Pacific Drilling for use of the Pacific Bora drilling rig.
Erin Energy plans to use this rig to drill the Oyo-9 well (Oyo-9) on the Oyo field in the deepwater offshore Nigeria. Under the contract, the Company has the option to drill up to two additional wells. The option to extend the contract, if exercised, would be used to drill two of its offshore Nigeria exploration prospects in the prolific Miocene geological zone.
The Pacific Bora is a highly efficient sixth generation double-hulled drillship currently in Nigeria and expected to be mobilized to the Oyo field and on site in June 2017. The contract provides for a base operating rate of $195,000 per day. The rig can be used for both drilling and well completion.
Erin Energy anticipates spudding the Oyo-9 in mid-June and first production from the well to be in September 2017. The Oyo-9 is expected to add an additional 6,000 to 7,000 barrels per day.
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