Tuesday, November 17, 2020

Bahamas Petroleum Company – Could provide billions of much needed royalty revenue for the national treasury

Stena IceMAX is the world’s first dynamically positioned, dual mast ice-class drillship. The Stena IceMAX is a Harsh Environment DP Class 3 drillship capable of drilling in water depths up to 10, 000ft. The IceMAX has on-board 2 x BOP’s, each 18¾” x 15,000psi Cameron “TL” BOP c/w ST Locks, and uses Cameron Load King riser.

Stu Turley
Oil and Gas 360

Operational Update – ‘one month out’ to Perseverance #1 – (“BPC” or the “Company”)

In the lead-up to the drilling of Perseverance #1, BPC’s obligation exploration well in The Bahamas, the Company is pleased to provide the following update on preparations for well operations. BPC is a Caribbean and Atlantic margin focused oil and gas company, with exploration, production, appraisal and development assets across the region.


·    Perseverance #1 is on track to spud before the end of 2020:

 100% equity to BPC, drilling of this potential basin-opening well anticipated to take between 45 and 60 days, with ‘tight-hole’ procedures in place

 Targeting recoverable prospective resources of 0.7 billion barrels of oil, with an upside of 1.44 billion barrels, solely for the northern portion of the B structure

 In the event of success, Perseverance #1 would substantially de-risk the total B structure, which extends for between 70 and 80 kms, has a mapped areal closure of over 400 km2, and has a ‘best estimate’ aggregate recoverable resource potential in excess of 2.0 billion barrels. Read more >>