OXX 5.26% 3.6¢ octanex limited

palta--wa-384-p, page-4

  1. 2,164 Posts.
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    Remember, Shell have this rig contracted out to Jan 2015 to drill their Prelude stuff. They are paying for the rig whatever it is doing. The only cost is an opportunity cost, if they weren't ready for another hole for whatever reason (permits, seismic, red tape etc) then there was no point moving the rig, just do what can be done in terms of logging the Palta hole.
    Prelude is the real big one. Look how much they are spending on the FLNG plant. I don't think there are that many deepwater drilling rigs around, and it may well have been a case [note speculative wording here] that the extra time to drill Palta was tacked on the front end to secure the rig contract.

    Would love to know what "non-commercial" hydrocarbons they found.
 
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