CGX Energy Announces Definitive Rig Agreement for use of the Ralph Coffman Rig for the Utakwaaka-1 Well
Tuesday 18 December 2018
CGX Energy Inc., through its wholly owned subsidiary CGX Resources Inc. has entered into a definitive rig agreement with ROWAN RIGS S.À R.L for the provision of rig services for the drilling of the Company’s Utakwaaka-1 well in its Corentyne block.
Under the terms of the agreement, the Company has procured the use of an offshore jack-up drilling rig named the Ralph Coffman.
The main terms of the rig contract are as follows:
Parties: CGX Resources Inc. and ROWAN RIGS S.À R.L
Area: Guyana/Suriname basin
Contract: One firm well
Commencement time: Second Quarter, 2019
Type: Day rate contract
Signing date: December 14,2018