(photo credit: Courtesy of Albatross)
The Homer Ferrington rig is currently drilling in the Leviathan partners’
license and it is not clear if it will be available to drill in February
It is unclear when Leviathan partners Noble Energy Inc., Delek
Group Ltd. units Avner Oil and Gas LP and Delek Drilling LP and Ratio Oil
Exploration will transfer the Homer Ferrington drilling rig to their
competitors, the partners in Myra and Sarah wells. It seems that this issue is
becoming more and more controversial the closer the drilling date
The Homer Ferrington rig is due to undertake two exploratory
drilling projects in the Myra and Sarah licenses in February 2012, according to
an announcement made by the Emmanuel Energy and Modiin Energy LP partnership.
However, there was no mention of this in Avner partnership announcement on
“The Homer rig is due to return to drilling as part of
the partnership’s project in Israel’s economic waters,” the announcement said.
Moreover, Globes has learned that the agreement that was signed with the Homer
rig allows Noble Energy, Delek Group and Ratio to begin additional drilling
during the first quarter of 2012.
The significance of additional drilling
is that that the Homer rig would continue working with Delek Group, Ratio and
Noble Energy until the end of the second quarter of 2012, for example if the
Leviathan 1 drilling project is renewed. However, Emmanuel and Modiin
continue to state that the Homer rig will transfer to them at the beginning of
February 2012 at the latest.
The Homer rig is the busiest of the three
drilling rigs currently operating in Israeli waters. The rig, owned by Noble
Corporation (not to be confused with Noble Energy), began exploratory drilling
at the end of August 2011 in Noble Energy’s Block 12 in Cypriot waters. In
November 2011, after it concludes drilling at Block 12, the Homer rig will
complete the development of the small North Noa field, which is expected to
augment natural gas flow to the Israeli grid in 2012.
The big question
is: What will the Homer rig do after it finishes developing the Noa field?
Myra and Sarah partners agree that Delek Group and Noble Energy have the right
to engage in additional drilling with the Homer rig. However, they claim that in
any event the rig may not remain in their possession after the beginning of
Delek Group and Noble Energy say that the only acceptable
reason for delaying the transfer of the rig would be if there is a significant
hitch that would prevent a delay in completing the drilling. “There have not
been any changes in the previously published drilling schedule,” Myra and Sarah
representatives told Globes on Sunday.