Xcite Energy Share Discussion Threads

[irnbru2] 01/11/2014 16:16

mikepage19   1 Nov'14 - 16:03 - 48700 of 48700   0 0

I wonder if the rig news was a deliberate leak by the company; very clever.
----

Mike, the cowboys are clever, you are not.

[mikepage19] 01/11/2014 16:03

I wonder if the rig news was a deliberate leak by the company; very clever.

[mikepage19] 01/11/2014 16:01

I see our friends were at the conference-

[mikepage19] 01/11/2014 15:15

So here we are-
When delivered, it is expected to be deployed in the Eastern China Sea but will also have provisions built in to enable the rig to operate in the North Sea.
And-
Scheduled for delivery in 1Q 2017, it will be the first jackup built to Keppel's new proprietary KFELS N Plus design.

03-March-2014
Keppel to build 500 feet water depth jackup worth US$500 million for China waters


Built to the KFELS N Plus design, the ultra-high specification jackup rig will be one of the first with the ability to work in such deep water depths

Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has secured a contract from TS Offshore Limited (TS Offshore), to construct an ultra-high specification jackup rig worth about US$500 million.

Scheduled for delivery in 1Q 2017, it will be the first jackup built to Keppel's new proprietary KFELS N Plus design.

With its leg measuring 678 feet or about 68 storeys tall, and a maximum combined drilling load of 3,860 kips, the KFELS N Plus is able to meet stringent operating requirements for the most challenging wells. It can work at a maximum water depth of 500 feet, drill to depths of 35,000 feet, and is equipped with a 100 feet cantilever outreach.

When delivered, it is expected to be deployed in the Eastern China Sea but will also have provisions built in to enable the rig to operate in the North Sea.

Dr Xiong Shaohui, Chairman of TS Offshore, said, "The KFELS N Plus rig is a robust and cost-efficient rig with distinctive safety and operational features. It is one of the world's most advanced rigs of its class with better drilling capabilities, a superior cantilever load performance, a larger deck space, a higher variable load and enhanced accommodations. We are confident it fills the gap for ultra-high specification rigs needed in the Eastern China Sea or almost anywhere in the world with a need for high specification and deepwater jackup rigs.

"We have chosen to build this unit in Singapore to meet specific customer requirements. Keppel FELS was probably the only yard able to provide us with such a high specification rig customised to our needs that would be well received by the market. With their strong delivery track record, we are also assured of receiving a high quality rig on time and in a safe manner, thus minimising any need for supervision during construction. Our strategic partnership with Keppel FELS will enable us to create value on our investments and grow our presence in this industry."

Developed by Offshore Technology Development (OTD), Keppel's R&D arm, the robust KFELS N Plus jackup is an enhancement of Keppel's proprietary KFELS N-Class design, three of which have been successfully operating in the North Sea.

Equipped with 72 high capacity pinion jacks and self-positioning fixation system of OTD's proprietary design, the KFELS N Plus design offers a robust performance during installation as well as elevated survival and drilling conditions.

Mr Wong Kok Seng, Managing Director (Offshore) of Keppel O&M and Managing Director of Keppel FELS said, "We are delighted that TS Offshore has chosen to build their rig for the Eastern China Sea to our ultra-robust and ultra-high specification KFELS N Plus design. This rig is the combination of Keppel's unique experience in designing and building rigs both for the North Sea as well as other parts of the world. It has the versatility to operate efficiently in the deeper waters of the Eastern China Sea as well as areas where the operating foundation conditions pose considerable installation challenges.

"Over the years, we have been able to differentiate ourselves to customers through our ability to understand their requirements and tailor solutions with the perfect fit, in terms of design and quality. Being selected to build a premium jackup rig for China waters is testament to our proven rig designs, reliable project execution and having a competitive total package."

The above contract is not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year.

[irnbru2] 01/11/2014 15:14

mcl, Carla and mike,

[mikepage19] 01/11/2014 15:07

China Oilfield Services Limited (“COSL”) has recently succeeded in the first offshore beta operation of its self-developed logging while drilling (“LWD”) equipment, Drilog®, following successes made for the new equipment in many onshore beta operations. The success of this offshore operation marks the critical technology which is grasped by COSL is mature and stable.
Self-developed by COSL, the Drilog® system is a LWD technology with full intellectual property. The system can be plug onto the self-developed rotary steering system, the Welleader®, to perform geo-steering functions. LWD is a high-end technology that has enjoyed rapid development in recent years, allowing contractors to grasp real-time positions and logging geo-data as necessary. These have significantly improved the accuracy and save time for drilling operations. They are well received by clients. There are only a handful of international oilfield service companies in the world that are in possession of this technology. The successful development and launch of this new technology will help alleviate overdependence of COSL on the peers and provided a brand-new high-end platform for further research and development efforts on logging.
At the moment, COSL has successfully developed and produced 6 Drilog® system engineering sample units, which have received valid approvals for all designed functions and performance indicators while the system continues to improve on stability. These have established a firm footing for offshore operation promotions in the future.

[tipjunkie] 01/11/2014 09:49

thanks mike

awesome research!

[spkiller] 31/10/2014 20:25

My first baby is due tomorrow and this awful habit, responding to the tyranny, lies and nonsense from the criminal gang of rampers has come to an end.

I am free of the shackles and I hope you free yourself one day too. There is no money to be made on AIM. It's a casino and the house always wins in the end.

[spkiller] 31/10/2014 20:23

On that bright and joyful note, after a day in the countryside and pumpkin carving I will leave you all to bicker and squabble for another ten years.

Mclellan, you are a wonder of nature. Your tenth anniversary on here has passed without fanfare, as will your life.

A bottom-of-the-class moderator and a petty, stupid human being with no common sense.

ACT, Your work here is important, dislodging these fools from their awkward perches and providing entertainment.

MikePage, I hope you never make it to Thailand, I hope you never lay a finger on any of those girls.

[pistonbroke1] 31/10/2014 19:11

Mike, plenty of prunes that'll sort it.

[mclellan] 31/10/2014 17:05

An interesting day, mike
I hope we get there before Christmas.

[mikepage19] 31/10/2014 16:58

pistonbroke1 31 Oct'14 - 15:24 - 48671 of 48679 1 0

Just testing Mike - well done you passed!

Trust me mate it's been a long time since I passed anything.

Have a good weekend everyone, not long now!!!!!!

[mikepage19] 31/10/2014 16:54

tipjunkie 31 Oct'14 - 14:54 - 48668 of 48676

To answer that question.

The Rowan Norway was not originally contracted to perform the EWT forced upon XEL by DECC after the flow-test.

The rig was kitted out in Dundee (in front of my window) from September until it left in early March-

As we know the EWT was a massive success.
But and here's the but. The Rowan Norway was originally contracted by XEL as the drill rig for phase 1a. As we know back in summer 2011 our friends at DECC forced upon XER the $250 million EWT.

ADTI performed the drilling and testing of the 9/3b-R well-

With the help of AMEC-

The contract-


This was the first RNS from XER regarding the Norway to commence phase 1a-

then

and finally-


As you can see from the below statement-
The Rowan Norway is expected to be used to commence the first stage production of the Bentley field, the planning for which is currently being undertaken. XER expects the Rowan Norway to be made available in the fourth quarter of 2011.

This RNS-

Then this-

Then the dreaded one-

Enter Teekay-

A bit of comfort-

Then the amendment-

And this is a very important RNS from May 2013-


This is the piece I liked-

Following the extended well test, which has led to the significant increase in reserves and updated field development plan, the Company no longer believes the terms and structure of the rig option to be appropriate for its commercial objectives.

XER has been in constructive dialogue with other drilling rig providers to develop alternative commercial solutions, which potentially would deliver better strategic alignment and fit for purpose structures to reflect the amended Bentley field development programme. Consequently, Expressions of Interest have now been issued to a number of drilling rig providers to formally develop an optimised drilling solution for the Bentley field.

Hope this helps clarify why we couldn't go into production in 2012 as planned.

[mclellan] 31/10/2014 16:27

An update, so far:

mclellan 31 Oct'14 - 09:56 - 48597 of 48676 17 3 edit

Please tick up this post if you have ACT and IrnBru on Filter.
Many thanks.