Chariot continues Namibia rig hunt

Chariot, continues, Namibia, rig, hunt, africa, tapir, exploration, Paul Welch, 1811aChariot oil & gas has pushed back the expected spud date of the Tapir South exploration well on Northern Block 1811 A, off Namibia, as it struggles to secure a deep-water rig Chariot oil & gas has pushed back the expected spud date of the Tapir South exploration well on Northern Block 1811 A, off Namibia, as it struggles to secure a deep-water rig

The company was hoping to drill the well before the end of the year but on Wednesday it revealed the rig it had anticipated to be available had been contracted by another operator for a longer programme.

Due to the tight rig market the company said it was finding it difficult secure an appropriate rig to carry out a one-well programme in Namibia without paying a significant premium.

“Whilst it is disappointing not to have secured a rig to drill Tapir South this year, we continue to negotiate other options at commercially attractive rates,” Chariot chief executive Paul Welch said.

“The rig market is tight but also very dynamic and whilst we are looking to drill as soon as possible next year, we need to manage this to optimise our drilling programme going forward.”

Chariot said it was currently in negotiations over a number of available rigs and expected to spud the Tapir South well during the second quarter of next year.

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