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InterOil halts drilling at Papua New Guinea well on rig safety concerns

  • InterOil (IOC -0.2%) suspends drilling at its Wahoo-1 wildcat well in Papua New Guinea, citing safety concerns from higher than expected pressure and gas entering the wellbore.
  • The well was designed for high pressures based on data from other wells in the region but the pressures exceeded by nearly 50% even those of IOC's nearby Antelope discovery.
  • IOC is exploring in blocks surrounding its Elk and Antelope gas discoveries with Total (NYSE:TOT) as part of a $300M program.
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Comments (1)
  • Circumspect
    , contributor
    Comments (5) | Send Message
    I have to wonder if this is a softly announced plug and abandon. I guess we will find out next time there is a PR on a well drilling. If the PR is for a different well, Wahoo-1 would be a P&A.
    28 Jul 2014, 10:15 AM Reply Like
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