DOUGLAS, UK – Challenger Energy is seeking to renew its exploration licenses offshore The Bahamas.
Although the company’s first exploration well on the Perseverance prospect was unsuccessful, it wants to progress to a third, three-year exploration period. The second term expired on June 30.
Challenger Energy holds 100% of four licenses in the islands’ southern territorial waters (Bain, Cooper, Donaldson, Eneas), and a fifth, Miami license, in the northern territorial waters.
As part the renewal proves, the company and the government need to agree on of the scope of any future work program and license obligations.
While the government has so far not responded (Challenger issued its request in March), the process of renewal from the first to the second exploration period took time to complete, and the same may occur this time due to administrative delays caused by Covid-19 pandemic and the islands’ forthcoming election.