Borr Drilling’s Post

US GoM FID Alert! bp has taken FID at its Kaskida development in the US Gulf of Mexico. This will be the Major's 6th hub in the region, with the platform expected to produce 80,000 bbl/d from 6 wells in Phase One. This phase has 275 MMboe of recoverable resource with first oil anticipated in 2029. “Technology has and will continue to play a pivotal role in propelling Kaskida from discovery to production. Together with the other resources we have in the Paleogene, we expect it to prove to be a world-class development. Today is a critical step in realizing its potential.” said Gordon Birrell, bp’s EVP of production and operations. This is bp’s first 20k development, requiring well equipment rated up to 20,000 psi. Advancements in 20k drilling technology, seismic imaging, and regional expertise enable bp to develop Kaskida, as well as the Tiber project (FID expected in 2025). bp’s objective is to unlock 10 bnboe in-place from its Paleogene discoveries.

Power Nickel Inc. (TSX.V:PNPN) (OTCQB:PNPNF)(TSX-V:PNPN) CEO Terry Lynch joined Proactive to unveil the exciting plans for their 2024 exploration endeavours on the Nisk Project. This project has garnered considerable attention due to its remarkable potential, as indicated by a 43-101 report showcasing the substantial growth possibilities of the existing deposit, boasting an impressive 7.2 million tons at 1.13% #nickel high-grade. During the interview, Lynch shared the company's ambitious agenda, revealing their intention to kickstart drilling activities on newly identified pod locations derived from advanced ambient noise tomography programs. These operations are slated to commence as early as the upcoming week, and the drilling program will span depths ranging from 300 to 600 meters, with the potential for even deeper excavations as the program unfolds. Watch at #Proactive #ProactiveInvestors #TSXV #PNPN http://ow.ly/gHs71059ITx

At the Bibemi #gold project, #ORR has signed a definitive earn-in agreement with BCM with the balance of the signature payment, being $450,000, to be paid by BCM to #ORR. #ORR has already received an advanced payment of $50,000. As a reminder, BCM will earn up to a 50% interest in Bibemi in return for meeting certain requirements including: • Payment of the full signature payment • $4 million in exploration expenditure • Future resource-linked success-based payments A large component of the exploration expenditure at Bibemi will be resource-expansion drilling and it is anticipated that drilling will commence at Bibemi in Q1-2024 with further details to be provided in due course. Additionally, funding has already commenced, with c.$72,000 received to support camp upgrades and ongoing technical studies ahead of the application for an exploitation licence in 2024. Work on a second agreement with BCM, related to the Mbe $gold project is ongoing, and is expected to be signed later this month.

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