By Alex MacDonald

 

LONDON--Premier Oil PLC (PMO.LN) said Friday it has cancelled a drilling contract for the Chatham exploration well in the Falkland Islands following a number of operational issues with the Ocean Rig UDW's Eirik Raude rig.

As a result, the drilling of the Chatham well--the final well in current campaign--will be deferred until the Sea Lion pre-development drilling campaign, said Rockhopper Exploration PLC (RKH.LN), another partner in the well.

The postponement of the Chatham well has no impact on the planning or timetable for the field development plan for the Sea Lion initial phase development, Rockhopper added.

Premier Oil has a 60% stake in the Sea Lion project. Rockhopper and Noble Energy Inc. (NBL) are also partners in the project.

 

Write to Alex MacDonald at alex.macdonald@wsj.com

 

(END) Dow Jones Newswires

February 12, 2016 02:35 ET (07:35 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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