StockMarketWire.com - Oil exploration company Bahamas Petroleum said Stena Drilling had confirmed that it anticipated to start drilling a well off the coast of the Bahamas before Christmas.

Stena estimated the arrival of the drill ship in the field on 15 December, with the Perseverance #1 well expected to spud date three-to-four days later, once the rig was on station. Stena IceMAX had been nominated as the drilling facility for the drilling and completion of the well.

'With the clarity of the anticipated delivery date of the Stena IceMAX into the field this work can now be reactivated against a detailed timetable and progressed,' the company said.

'Logistics plans reactivated; previously delivered critical path/long-lead items inspected pending mobilisation from warehouses; Covid-19 impact mitigation plans being implemented and final revisions to cost estimates made,' it added.

At 8:00am: [LON:BPC] Bahamas Petroleum Company PLC share price was +0.08p at 2.43p



Story provided by StockMarketWire.com