Senergy expands Wellshare model

Offshore Staff

ABERDEEN -- Senergy has signed deals with operators totaling $146 million for the delivery of well programs using semisubmersible drilling rigs from Dolphin Drilling and Stena Drilling.

Senergy's Wellshare contracting model links payment terms to overall project performance, including seismic acquisition, subsurface analysis, well construction design, and execution management.

The semisubmersible drilling rig,Byford Dolphin, has begun work in the UK North Sea and will drill for a number of Senergy clients including Granby Oil and Gas, Chrysaor, and Century.

Senergy has also extended the Wellshare model's reach with a multi-client program for Stena Drilling.

"This is an extremely effective way of the industry working in partnership to increase productivity in the North Sea," says Dave Reed, MD of Senergy. "From our perspective, we are not only able to offer an additional service to our existing clients, we are also engaging with new companies, unlocking unrealized potential in their existing wells. Our own capabilities are enhanced by all of our disciplines working together to best effect, and the business model is proving to work for all concerned."

05/15/2008