News

First Contract for Energy Drilling in Malaysia

May 15th, 2019

Energy Drilling has received a Letter of Award on the 15th May 2019 from EnQuest PLC to perform drilling services on their Seligi Field offshore Peninsula Malaysia with the TAD EDrill-2. The contract calls for two firm wells plus two option wells. EDrill-2 is currently in Kim Heng Shipyard, Singapore and preparations are underway to mobilise the rig in early July.

“The award by EnQuest marks our first entry into Malaysia since the founding of the company. We are very pleased that EnQuest has chosen Energy Drilling against stiff competition from other providers of tender assist rigs.” says Marcus Chew, CEO of Energy Drilling.

EDrill-2 has worked continuously for PTTEPI, Myanmar on the Zawtika Field since its delivery in December 2015. It has performed very well in the challenging weather conditions offshore Myanmar, especially during the monsoon seasons. The crew of EDrill-2, under the leadership of rig manager, Graeme Bain are looking forward to the new challenges in Malaysia.


A little over a month ago, EDrill-2 preparing to berth in Singapore

Photos taken by Justin Tan of Kim Heng Yard

 

Atlantica Tender Drilling and Energy Drilling seeks merger to catalyst growth

April 04th, 2019

 


Atlantica Tender Drilling Ltd. (“Atlantica”) and Energy Drilling Pte. Ltd. (“Energy Drilling”) have today signed a Letter Of Intent to merge the two companies. The contemplated transaction will create a stronger company with improved capabilities and geographical presence, a starting point for further growth and consolidation in the drilling industry.

Atlantica is a leading owner and operator of semi-submersible tender drilling rigs operating in the Atlantic Ocean. Energy Drilling is a leading owner and operator of barge tender drilling rigs operating offshore South-East Asia and has a newbuild semi-submersible tender drilling rig ready for delivery.

The combined company will be the second largest tender drilling contractor, with five rigs representing 17% of the tender drilling market. The fleet will be the most modern among competitors, with an average age of 5 years. Operations are backed by solid backlog against Petrobras and Total and a strong track record operating for Thai national oil company PTTEP. For the year ended 2018, the combined company had revenues of USD 211 million and an EBITDA of USD 114 million.

 “This merger represents the starting point for an attractive growth strategy targeting to consolidate and expand in the drilling industry. Atlantica and Energy Drilling has the right assets, backlog and balance sheet to be a forward leaning M&A partner in the industry”, says Kerry Kunz, CEO of Atlantica.

“The two companies have performed drilling operations in multiple geographical locations for top clients such as Petrobras, Total and PTTEP. Our goal is to grow our combined company to provide our clients with cost effective, productive and safe drilling operations”, says Marcus Chew, CEO of Energy Drilling.

An implementation committee with representatives from both companies will commence the detailed planning and structuring of the contemplated transaction as well as conclude management structure and operational presence going forward.

When all conditions in the Letter Of Intent are met, including refinancing of existing credit facilities, satisfactory due diligence and shareholder approvals, the transaction is expected to be completed early third quarter 2019.

The contemplated transaction is unanimously supported and recommended by the board of directors of the two companies. The contemplated transaction has also received support from the majority of shareholders in Atlantica and Energy Drilling.

For further questions, please contact:
Marcus Chew (+65 62228368)
Kerry Kunz (+ 1 832-494-2200)


IMPORTANT INFORMATION

This news release contains certain forward-looking statements that are based on uncertainty, as they relate to events and depend on circumstances that will occur in the future and which, by their nature, may have an impact on results of operations and the financial condition of Atlantica or Energy Drilling. Such forward-looking statements reflect our current expectations and are based on the information currently available. Atlantica or Energy Drilling cannot give any assurance as to whether such forward-looking statements will prove to be correct. These forward-looking statements include statements regarding the contemplated transaction. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

This news release does not constitute an offer to buy or exchange, or the solicitation of an offer to sell or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

The distribution of this announcement and other information in connection with the contemplated merger may be restricted by law in certain jurisdictions. Atlantica and Energy Drilling assume no responsibility in the event there is a violation by any person of such restrictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions.

EDrill-2 ends Offshore Myanmar Campaign on a high note

March 31st, 2019

March 2019 marks the end of a very successful campaign for rig EDrill-2 in Myanmar with PTTEPI.

Our CEO thanked the crew of EDrill-2 for their hard work and dedication for a job well done and putting Energy Drilling on the map of offshore Myanmar.

Many milestones were achieved during this campaign which helped PTTEPI and MOGE, Myanmar, secured gas production in the Zawtika ahead of schedule and better than budgeted.

In a period of 1,204 days, a total of 87 wells were drilled and completed together with 11 rig moves, of which several were carried out during the monsoon seasons. This is a great achievement for an inaugural campaign with a newly built rig.

Below are some of the key highlights and achievements:-

Dec’15, Arrival at Zawtika field of new build rig, EDrill-2, from COSCO Guangzhou, China
Jan’16, Drilled and completed 1st monobore well ZTK-04-V
Sep’16, PTTEPI decided to use only EDrill-2 for drilling and completions. This eliminates the need for a second rig solely for completions
Oct’16, Completed 1st well ZTK-07-S, Sand Control Completion, dual zones, extension pack with SIMOPS
Sep’17, PTTEPI decided to extend EDrill-2’s contract to Feb’19
Oct’17, UWILD completed offshore from tender, with no requirement for additional diving support vessel
Nov’17, Selected 38 MOGE crew (for 2nd year) from 78 interviews. Continued with training in Yangon and onsite
Dec’17, Drilled and completed Zawtika 1B development, ZWP4, 5, 6, 7 and ZWP-2 infill, total 46 wells
Jul’18, Rescued 12 Myanmar fishermen stranded at sea. Safely transferred to Yangon
Oct’18, Achieved 2 years LTI free
Dec’18, Continuous improvement on rig move days, total 8.5 days on ZWP-11 to ZWP-10
Jan’19, Continuous improvement on rig conversion days, total 1.3 days on ZWP-10
Mar’19, Drilled and completed Zawtika 1C development, ZWP8, 9, 10, 11 and ZWP-7 infill, total 41 wells
Mar’19, Demob equipment and personnel. 124 personnel disembarked by helicopter, total 14 flights
Mar’19, End of contract. Total 1,204 days, 87 wells, 126 zones of SC completion, 11 rig moves, 9 rig conversions
Mar’19, EDrill-2 arrives in Singapore for warm stack and PM routine lead by drilling and maintenance crew


Our CEO received a very appreciative email from Khun Piya, GM of PTTEPI Myanmar as follows:

Dear Khun Marcus,
 
We sincerely appreciate your rig service to us as one of our most reliable business partners. 
 
Since we started the Zawtika development campaign 1B/1C, Energy Drilling has provided the highest level of commitment to meet MOGE and PTTEPI SSHE and performance expectation. When facing challenges, your team took them up in a positive way and raised quality up to another level. Our team could not be more satisfied with your work. 
 
We look forward to continuing this relationship in future opportunities.

Warm regards,
 
Piya S.
PTTEPI

 


EDrill-2 arriving in Singapore



Bird's eye view of EDrill-2



EDrill-2 preparing to berth

Photos taken by Justin Tan of Kim Heng Yard

 

Drilling down: Marcus Chew

March 11th, 2019

Energy Drilling CEO, Marcus Chew, in his recent interview with the CEO Magazine.

“You don’t achieve a world-class operation without dedicated workers – they define us as a company.”

Read more.

 


This article was originally published in February 2019, March Asia Edition of
CEO Magazine, and is protected by copyright.

 

People Focused - CEO interview with Drilling Contractor

September 16th, 2018

Our CEO, Marcus Chew, recently attended the 2018 IADC/SPE Asia Pacific Drilling Technology Conference & Exhibition held in Bangkok Thailand.

Speaking at the conference, Marcus touched on employees' competency and increasing their skill sets. With him at the Executive Plenary Session were senior representatives from leading oil companies, service providers and drilling contractors, Chevron Asia, PTTEP, Sapura Energy, Shelf Drilling & Weatherford .

Watch Marcus' interview with Linda Hsieh, DC Managing Editor, as he talks about taking employee's traning out to the rig site, how the industry can deal with the oversupply of rigs and lessons learned from ultra-efficient drilling operations in the Gulf of Thailand.


Reshaping for a Smart and Sustainable Future - focus in this year's IADC/SPE Asia Pacific Drilling Technology Conference and Exhibition


Marcus Chew speaking with Linda Hsieh - DC Managing Editor


This video interview was originally published on the 13th of September 2019 of Drilling Contractor, and is protected by copyright.

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