88 Energy has been hit by a delay to drilling operations at its Icewine #1 well in Alaska while repairs are carried out on the Kuukpik 5 drilling rig.
The rig has already drilled to a depth of 8,773ft requires repairs to the draw works system as well as additional repairs to ancillary systems.
The hole remains in excellent condition and mud continues to be circulated, 88 said.
The company aims to complete repairs on the rig and drill to a total depth of 11,600ft and take a total of 30 days of drilling to complete.
Managing director Dave Wall said: “Excellent progress had been made up until the issue with the drawworks and we are now within striking distance of the primary, HRZ target. Fortunately, significant time was clawed back prior to the issues and we remain within the budget.”
“The presence of the heavy gases does not definitively prove the thermal maturity model but if these had not been present, then it may have indicated that the HRZ was likely over mature at this location. This encouragement is only partially offset by the ongoing mechanical issues with the rig.”