STAVANGER, Norway – Badger Explorer ASA says it has successfully completed the Milestone III tests of its prototype formation and reservoir evaluation tool that drills into the seabed by itself, without a rig on the surface.
The third phase tests included operations in a clay formation and then a deeper, closed cavity drilling test at Brumunddal.
Badger’s steering committee, consisting of Shell, ExxonMobil, and Statoil, has approved additional project financing for 3Q 2011.
Badger says this is the pre-commercial phase and that it is in discussions regarding applications such as shallow penetration to map drilling hazards and shallow placement off instruments to monitor a reservoir.
Kjell Erik Drevdal, Badger Explorer CEO, said, “The sponsoring oil companies’ approval is much appreciated and a formal confirmation of the results we have achieved. Our sponsors have also expressed satisfaction with the results and are pleased with the improvements implemented in the tool during the last six months. With this achievement we have significantly reduced the concept’s risk.”