- Randolph Yost jack-up rig to operate in the Kitchen Lights Unit production region from April 2016
- Modifications currently under way in Singapore in preparation for deployment in southern Alaska
- Faster drilling times and deeper wells possible
Luxembourg 27 October 2015. The Deutsche Oel & Gas Group will be employing the Randolph Yost drilling platform from rig specialist Shelf Drilling, Dubai during the next drilling season. The Randolph Yost is currently being modified in Singapore for use in the cold Alaskan waters. At the beginning of March 2016 it will set out for its new operating site in the Cook Inlet in Southern Alaska, where it is expected to arrive in April in time for the start of the new drilling season.
In leasing the Randolph Yost, the Deutsche Oel & Gas Group is benefiting from the current low oil price, the associated decline in oil exploration activities and the resulting drop in prices of exploration equipment worldwide. The rental and operating costs for the Randolph Yost rig are relatively low in long-term comparison. The new drilling platform is around twice the size of and more powerful than the previous Spartan 151 platform. It can be used in water up to 91 metres deep. Its larger and stronger drilling unit enables shorter drilling times and therefore a reduction in the costs of new wells. It can also reach depths of up to 7,620 metres, thus making it possible to exploit previously unreachable formations. With around 118 members, the crew is also almost twice the size of that of the previous drilling platform.
As with all operating activities, the use of the Randolph Yost is the responsibility of Thomas E. Hord, Chief Operating Officer of Deutsche Oel & Gas subsidiary Furie Operating Alaska, LLC. “The Randolph Yost will be the only drilling platform in the Cook Inlet in 2016, and will significantly increase the speed at which we tap into the newly discovered oil and gas deposits. In selecting this drilling platform we also had the interests of the company and our shareholders very much in mind, and have been able to take advantage of market opportunities, in this case the currently low oil price and, consequently, the favourable price of exploration equipment,” said Kay Rieck, Chairman of the Board of Directors of Deutsche Oel & Gas S.A.
Data sheet for the Randolph Yost jack-up drilling unit: http://www.shelfdrilling.com/wp-content/uploads/2015/04/Shelf-Drilling_Randolph-Yost_Spec-Sheet-April-2015.pdf
Further information on Deutsche Oel & Gas S.A.: http://www.deutsche-oel-gas.com/