Today Canadian Overseas Petroleum (XOP: TSX-V) & (COPL: LSE), announced that Mesurado-1 Well offshore Liberia has spud. After a long wait resulting from Ebola in Liberia, drilling has now begun from contracted West Saturn Seadrill Drillship. Operator and partner ExxonMobil Exploration and Production Liberia Limited has agreed to invest $120 million on their first well(s). A short video on this incredible drillship can be seen with this link. https://vimeo.com/97821577
The Mesurado-1 well is located about 50 miles offshore Liberia on Block LB-13 in approximately 2500 metres of water. The well, targeting oil in Late Cretacous sands is the first well operated by ExxonMobil offshore Liberia. The COPL’s 100%-owned subsidiary, Canadian Overseas Petroleum (Bermuda) Limited, holds a 17 percent interest in Block LB-13.
Canadian Overseas Petroleum was also featured in our CHF November eNewsletter spotlight. To read the eNewsletter click here.