PBR or CVX wouldn't even touch a rig with a BOP capacity less then that.
It's a concern when people expect each mkt update to say 'gas discovery' & yet everything gets overlooked behind the scenes, as to the routine operations that go on to make that look so simple. Everyone has a role to play the mud doctors, engineers & the geo's/loggers and as long as the job gets done safely, there should b no complaints. Anyway thats my rant abt the BOP.
Should b interesting to see how things progress for the 8.5" section & the mud-weight they'd use (once they get past the regional seals).
We r not in the 'Muderong' yet, so the local seal should b intact.
In theory, they should have a interbedded shale/sand sequence coming up next.
The sands being, Windalia, Angel, Birdrong, Calypso & Legendre & the shales being Gearle, Muderong, Forestier, Dingo formations.
In short, classic textbook shale-sand or seal-trap combo, coming up next. Drill safe.
MEO Price at posting:
51.0¢ Sentiment: Hold Disclosure: Held