RE:Equinor still has a 2 well commitment by June 26/20TheRock077 wrote: The West Thrace Exploration Licence has a two well commitment to fulfill the work programme obligation which must be completed by June 26, 2020.
This commitment is still confusing to me due to the 2 different levels of working interests based on depth. It's the first I have seen in turkey, but I assume the GDPA only cares about 2 wells being drilled. And as has been stated, they can both be shallow.... but how does EQ resolve that if the shallow partners dont act. I cant imagine they're interested in drilling two atleast 2,500m wells in west(would be a pretty nice bump if they did). But maybe that commitment doesnt apply below the 2,500m depth currently?
I think EQ(if they arent interested in walking away) will pony up the dollars for one shallow well to be drilled and cased in a state, were later they can re-enter easily and drill deep. Likely after the license gets its 2 year extension. Which undoubtedly, will include a deep well drilled.