Hyperdynamics signs MSA with Schlumberger

Hyperdynamics Corporation has recently announced that SCS Corporation Ltd. (“SCS”), its wholly owned subsidiary, has signed a Master Service Agreement (“MSA”) with Schlumberger to provide essential drilling services for the deepwater exploration well planned for the second calendar quarter of 2017 offshore the Republic of Guinea.

“With the signing of this agreement with Schlumberger, we now have the critical equipment and most of the drilling services contracts in place to enable us to begin drilling the Fatala-1 deepwater exploration well this spring,” said Ray Leonard, Hyperdynamics President and Chief Executive Officer. “Schlumberger is the world’s leading provider of oilfield services and equipment to the upstream industry. With Schlumberger as integrated project manager for drilling services — and with Pacific Drilling providing a modern deepwater drillship with an experienced crew — we have assembled a world-class contingent of equipment, services and highly experienced manpower.”

Under the MSA, Schlumberger will be the primary provider of services to drill the Fatala-1 well, including Wireline logging, Measurement while drilling, logging while drilling and similar downhole drilling services, Drilling fluids and solids control services, Downhole cementing services, Mudlogging services, Drilling bits and reamers and Contingency fishing equipment and services. The estimated value of the MSA for the Fatala-1 well is approximately USD 4.5M.

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