Hi Zak the ORA is a problem for COP regardless of what they do, they either keep it drilling, tie it up and pay full rates or break their current lease which would cost many millions.
COP certainly have an incentive to drill low risk resource accretive appraisal wells but perhaps not exploration wells as they are moving away from deepwater exploration, so that alone would be an incentive for them to push for a fast foward of SNE , their lease is also extendable to 2019....
Cheers Whisky
Contingent wells, page-6
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