Upstream Says Chevron To Drill In Block 1 Before Christmas

It's already old news to most investors who read the I-Hub and Raging Bull message boards, where it was widely reported via an article in Rigzone a week ago, but Chevron is planning to sink a drill bit into the deep waters of the Gulf of Guinea on the Block 1 concession it shares with ExxonMobil and two small companies in the Nigeria-Sao Tome and Principe Joint Development Zone, UpstreamOnline has newly reported.

Here is the article from Thursday's editions, courtesy of our friend Ruby 1100:

Chevron takes aim with drillbit

US supermajor Chevron aims to spud its debut well in deep-water Block-1 in the Nigeria-Sao Tome Joint Development Zone next month.

With committed signature bonus payments still an issue bedevilling the final equity breakdown of remaining JDZ blocks awarded under the just-concluded second round, all eyes are focused on this first well to test the potential of the Gulf of Guinea deep.

Earlier reports indicated caution on the part of the supermajor that drillship scarcity could postpone the probe until the second quarter of next year.

However, it is understood that a unit has now been sourced and the 60-day well is scheduled to start before Christmas.