VIC/P57 JV to Spud Gippsland Basin's Sea Lion-1 Prospect in Mid-September

3D Oil Ltd. reported Tuesday that the Sea Lion-1 exploration well in the Gippsland Basin, offshore Australia is now expected to spud approximately mid-September, subject to weather conditions causing delays to the handover of the rig from the current operator.

The VIC/P57 joint venture, under the operatorship of Carnarvon Hibiscus Pty Ltd. (CHPL), has contracted the jackup West Telesto (400' ILC) to drill Sea Lion-1. The joint venture has completed its operational and regulatory preparations and stands ready to drill Sea Lion-1 and stands ready to drill Sea Lion-1 upon handover of the West Telesto. 

Note that the delay in spudding Sea Lion-1 is not at the material expense of the VIC/P57 joint venture and also that it is not due to problems with the performance of the rig or other operational factors. The delay is entirely due to adverse Bass Strait weather and sea conditions preventing the timely release of the West Telesto from its current assignment with another operator.

Sea Lion-1 is located in offshore Gippland Basin permit VIV/P57 where 3D Oil has a 24.9 percent interest. 3D Oil's share of the Sea Lion-1 well costs is being carried up to the extent of $7.5 million as part of an agreement with CHPL.


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Well Monitoring Specialist
Expertise: WellSite Supervisor
Location: Houston, TX
Chief Mechanic (6th Gen Drillship)(Contract)
Expertise: Rig Mechanic
Location: Houma, LA
ET (Deepwater Drillship)
Expertise: Rig Electrician
Location: Houma, LA
search for more jobs

Brent Crude Oil : $49.98/BBL 1.59%
Light Crude Oil : $49.18/BBL 1.56%
Natural Gas : $2.73/MMBtu 1.44%
Updated in last 24 hours