Friday, March 13, 2020

Coronavirus Puts a Dent in Bahamas Offshore Drilling Plan

The Bahamas - Image by foxytoul - AdobeStock

Bahamas Petroleum has delayed its plans to drill an exploration well offshore The Bahamas, citing the impact of the coronavirus on operations.

Previously planned to spud in April 2020, the #Preseverance 1 exploration well is now anticipated to be spud in late May or early June, „as a result of the rapidly unfolding impact Covid-19 is having on operations.“

“As shareholders will be aware, in recent weeks there has been a material adverse change in the global operating environment, characterized by the rapid spread of the Covid-19 virus and the extraordinary, unprecedented worldwide response to this issue,” the company said.

Bahamas Petroleum said the limitations and disruptions in the global supply chains the virus outbreak has created challenges for its drilling plans.  Read more >>