Awilco Signs Rig Contract for North Sea Well

Awilco Signs Rig Contract for North Sea Well
The semisub will drill a single exploration well.

Ithaca Oil and Gas Limited has contracted Awilco Drilling PLC’s (OTCMKTS: AWLCF) WilPhoenix semi-submersible rig for a well in the U.K. North Sea, Awilco reported Monday.

The rig will drill a single exploration well at Fotla in Block 22/1b, Awilco noted in a written statement. The drilling contractor added the well will commence on May 31, 2021, at the earliest.

According to the U.K. Oil and Gas Authority, Ithaca holds a 60% interest and operatorship of Block 22/1b. Spirit Energy Resources Limited owns the remaining 40% stake.

Awilco noted the WilPhoenix is one of the company’s two Enhanced Pacesetter semisubs. The rig can operate in water depths up to 1,200 feet (366 meters) and drill to 25,000 feet (7,620 meters), points out a spec sheet on Awilco’s website. Before the drilling contractor acquired the rig in 2010, the rig was known as the Vinland, Maersk Jutlander, GSF Arctic II, and Arctic II, Awilco notes.

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