New Standard Energy's Drilling Timeline for Nicolay-1 Delayed by Two Weeks

Australia's New Standard Energy said Thursday that the project timeline for the drilling of the Nicolay-1 well has been delayed for two weeks due to identified faults in a control panel of the drilling rig.

The faults, said New Standard Energy, have been successfully resolved. The rig – MB Century Rig 14 – will have its mast raised on Thursday, the company added.
The final rig-up and commissioning of the well will be undertaken during the next fortnight. 
New Standard's managing director Sam Willis said in a statement that while the delay was "somewhat frustrating", drilling safely, efficiently and continuously was more important.
Nicolay-1 – lying in EP 456 in the onshore Canning Basin – will be drilled to a depth of 11,155 feet (3,400 meters), a spokesperson representing New Standard Energy told Rigzone on Thursday. The well will be extensively cored during the drilling process, the spokesperson added. 
New Standard Energy is planning to drill two other wells in the permit after the drilling of Nicolay-1 is completed, the spokesperson said. The spokesperson said that the company will release the intended drill depth of the two other wells in due course.
ConocoPhillips is earning into 75 percent of the project through funding four phases of staged exploration work in the permit, which includes the drilling of the Nicolay-1 well, following which, New Standard's interest will dilute to 25 percent.


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