Matuku-1 is programmed as a vertical well to be drilled by the Kan Tan IV semi-submersible rig in water depths of approximately 130m. Dependent upon the results while intersecting the zones of interest (as detailed below), the well will be drilled to a potential total depth (TD) of approximately 4750m MDRT (measured depth below rotary table). Matuku-1 is scheduled to take 45 days to drill to TD and then abandon – see the Figure 1 Location Map for Matuku-1.
45 days to drill to TD then abandon. What is the purpose of this well if the intention up front is to abandon?
OXX Price at posting:
24.0¢ Sentiment: Hold Disclosure: Held