Stena Drilling will begin installing equipment needed for 20,000 psi operations on its seventh-gen Stena Evolution drillship starting in 2026, the contractor announced March 26.
The Stena Evolution drillship is capable of operating in water depths up to 12,000 ft and drilling depths up to 40,000 ft.
Stena Drilling, together with Shell and equipment supplier NOV, will start the installation of the 20,000 psi subsea blow-out preventer and other key equipment in 2026. When the new 20,000 psi equipment package is installed, the Stena Evolution will be able to perform completion operations in the Shell-operated Sparta Field in the U.S. Gulf of Mexico.
In May 2023, Shell awarded Stena Drilling a five-year contract for the Stena Evolution, starting operations in the second quarter of 2024.
The Sparta Field taps the Paleogene reservoir, and Shell reached final investment decision on developing the project in mid-December. The project features a 90,000 boe/d production semisubmersible, which is expected to go online in 2028.
Recommended Reading
EQT Declares Quarterly Dividend
2024-04-18 - EQT Corp.’s dividend is payable June 1 to shareholders of record by May 8.
Matador Resources Announces Quarterly Cash Dividend
2024-04-18 - Matador Resources’ dividend is payable on June 7 to shareholders of record by May 17.
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.
Equitrans Midstream Announces Quarterly Dividends
2024-04-23 - Equitrans' dividends will be paid on May 15 to all applicable ETRN shareholders of record at the close of business on May 7.
PrairieSky Adds $6.4MM in Mannville Royalty Interests, Reduces Debt
2024-04-23 - PrairieSky Royalty said the acquisition was funded with excess earnings from the CA$83 million (US$60.75 million) generated from operations.