Tanker Rates Skyrocket To Fill Colonial Pipeline Shortages
By Elizabeth Low (Bloomberg) Oil tanker charter rates skyrocketed in the U.S. with refiners scrambling for ships to store fuel that has nowhere to go due to a cyberattack on...
For the forseeable future, Cairn Energy is a company focused on the Atlantic Margin according to CEO Simon Thomson. This is an area that includes the mostly unexplored regions along the continental shelves of north-western Africa, Ireland and the west coast of Greenland.
Thomson notes that after 5 or so years of profitable campaigns in southern Asia, they are now focused on executing an aggressive drilling campaign including four proposed operated exploration wells offshore Morocco and Senegal involving the Cajun Express and one appraisal well offshore west of Ireland (H1 2014) utilizing the Blackford Dolphin.
Dr. Mike Watts, Cairn Energy Deputy CEO notes n a recent posted interview that should any one of their plays in this region come to fruition, “it will make a material difference in the company’s share price.”
Utilizing Transocean’s Cajun Express, a fifth-generation semi-submersible drilling rig, Cairn recently drilled the FD-I wildcat exploration well approximately 120km offshore Morocco in 1,500 meters of water. This was Cairn’s first well in their multi-well drilling program in the Atlantic margin.
CEO Simon Thomson notes that this first well, “did not encounter the target reservoirs, but has confirmed a deep water hydrocarbon system.” Next up for the Cajun Express is the Juby Maritime III block.
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