Noble Energy, Delek, Ratio Start Drilling Dolphin 1

- Noble Energy, Delek, Ratio Start Drilling Dolphin 1

Tuesday, August 30, 2011
Knight Ridder/Tribune Business News
by Yael Gruntman, Globes, Tel Aviv, Israel

The Sedco Express rig on Monday began initial exploratory drilling of Dolphin 1 Exploratory Prospect, located in the Hanna license, near Leviathan. Dolphin 1 drilling will take place 100 km west of Haifa, and the purpose of the drilling is to discern if there is natural gas in Dolphin 1. Netherland, Sewell & Associates, Inc. (NSAI) best estimate of the gross natural gas reserves at Dolphin 1 is 550.5 billion cubic feet (BCF), with a geologic probability of success of 73 percent.

The drilling is based on the report by NSAI. Well operator, Noble Energy Inc. (NYSE: NBL), owns 39.66 percent of the license, Delek Group Ltd. (TASE: DLEKG) and Avner Oil and Gas LP (TASE: AVNR.L), each own 22.67 percent, and Ratio Oil Exploration (1992) LP (TASE:RATI.L) owns 15 percent.

The decision to drill is partly based on NSAI's prospective resources report. The resources report also says that if there is a gas discovery, based on previous experience in developing similar fields, best estimate has a reasonable chance of being commercially viable.

The drilling will be implemented in two phases. The first phase, is based on Noble Energy's recommendation to take advantage of the time needed for periodic treatment of the rig's blowout preventer (BOP) system. The rig is currently drilling the initial well at Tamar. The first phase will only drill to a depth of 2,560 meters, and will not reach the target strata. Casing pipes will be installed during the first phase, which will strengthen the borehole with cement.

The well's second phase will be drilled later, apparently using the same rig. The two phases are expected to last two months, with the first phase lasting only two weeks. The total budget of both phases, not including production test costs, is $51 million, $8 of which is for the first phase. The final drilling depth is expected to reach 6,000 meters, including 1,560 meters of water, to the target strata 1,440 meters.

Dolphin 1 is one of the 3 dolphin prospects in the Hanna license. According to the NSAI prospective resources report, Dolphin 1 has the largest potential for gas, and for now is the only prospect that has been chosen for exploratory drilling.

(c)2011 the Globes (Tel Aviv, Israel). Distributed by MCT Information Services.

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E. On Spins Bit at Breiflabb Prospect

- E. On Spins Bit at Breiflabb Prospect

Tuesday, June 28, 2011
Rocksource ASA

Rocksource announced that the drilling rig Borgland Dolphin has commenced drilling on the Breiflabb prospect in PL 416 in the Norwegian part of the North Sea.

The PL 416 partnership consists of E.ON Ruhrgas (Operator and 50 percent working interest), Det norske oljeselskap (15 percent) and Rocksource (35 percent).

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TGS, Dolphin Join Forces for Seismic Acquisition in NW Africa

- TGS, Dolphin Join Forces for Seismic Acquisition in NW Africa

Thursday, June 23, 2011
TGS-NOPEC Geophysical Co. ASA

TGS has signed an agreement with Dolphin Geophysical Ltd. to jointly acquire, process and market multi-client 2D seismic data along Northwest Africa. The survey will total 25,000 km of long offset seismic data in the offshore areas of multiple countries. This program was designed based on the partnership's extensive geologic knowledge of the area. Approximately 10,000 km of seismic data has been acquired to date using the M/V Artemis Atlantic and the remaining acquisition will continue into the second half of 2011.

The data will improve the understanding of highly prospective areas along the Northwest African Passive Margin and adds to TGS' existing and continuous multi-client 2D seismic library along the African margin.

Data processing will be performed by TGS and certain data will be available to clients beginning in late 2011, with the full program completed in 2012.

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Karoon to Contract Blackford Dolphin for Santos Program

Karoon to Contract Blackford Dolphin for Santos Program

Thursday, May 05, 2011
Karoon Gas Australia Ltd.

Karoon, as operator of five blocks in the Santos Basin, on Thursday signed a letter of intent to contract with Dolphin Drilling Ltd, for the Blackford Dolphin semi-submersible drilling rig. The completion of the final drilling agreements is subject to final negotiations and is expected by the end of June 2011.

This letter of intent covers the drilling of three wells in Karoon's Santos Basin blocks, to begin in the first half of 2012. These will be located about 280 kilometers off the coast of the State of Sao Paulo, Brazil, in water depths of approximately 400m.

The Blackford Dolphin is a semi-submersible drilling rig, currently operating in Brazilian waters, and was the preferred drilling rig for Karoon's upcoming Santos Drilling Program. Karoon will be targeting several prospects in this drilling program along with satisfying its second period work commitments. Prospects within Karoon's Santos Basin Blocks contain several large drilling targets will be announced at the completion of seismic interpretation later in 2011.

Preparations are currently being carried out to obtain all the necessary regulatory and other approvals, long lead items have been ordered and a specialists team of drilling engineers has commenced well planning and pre-drilling engineering.

Karoon's wholly owned subsidiary, Karoon Petroleo & Gas S.A., has entered into the Letter of Intent and currently owns 100% of the Santos Basin Blocks 1037, 1101, 1102, 1165 and 1166.

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Blackford Dolphin Picks Up Additional Brazilian Work

Blackford Dolphin Picks Up Additional Brazilian Work

Tuesday, April 26, 2011

Fred. Olsen Energy ASA

Dolphin Drilling, a subsidiary of Fred. Olsen Energy, has entered into a Letter of Intent for the provision of the semi-submersible Blackford Dolphin for the drilling of one well offshore Brazil. Commencement is scheduled late in the fourth quarter 2011, with an estimated duration of total 135 days of which some 118 days will be in continuation of the existing Reliance contract. Total contract value is approximately USD 47 million. The contract remains subject to final contract agreement, partner and management approval which are anticipated to be closed within end May.