AGR ties up supplies for Guinea wells

AGR Peak Well Management has contracted long-lead-time equipment, materials and other services totaling $12 million to support Hyperdynamics’ first exploration drilling campaign offshore Guinea.

Offshore staff

HOUSTON – AGR Peak Well Management has contracted long-lead-time equipment, materials and other services totaling $12 million to support Hyperdynamics’ first exploration drilling campaign offshore Guinea.

The purchases, which are included under several separate contracts, will cover most of Hyperdynamics' needs for the first two wells which are set to spud during Q4 2011.

They include pipe and casing, a wellhead, drilling fluid and cement; logistics; and analytical services to evaluate underwater and sea floor conditions at the proposed well sites.

Hyperdynamics president and CEO Ray Leonard said: "Between now and the initiation of drilling, working through AGR, we plan to engage additional contractors to move people and equipment between the drillship and shore and to secure shore-based facilities, materials and services."

Aberdeen-based AGR is providing well management support for the program.

06/02/2011

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