Galilee Energy Secures Drilling Rig for Zydeco Project
Key points
- Formal drilling contract executed with RFC Drilling, LLC for Rig 103
- Drilling of Zydeco-1 well planned for the first week of July 2026
- Target of up to 8 Bcf gas and 0.5 MMbbl of condensate/oil
Full summary
Galilee Energy Limited (ASX: GLL) has announced the execution of a formal drilling contract with RFC Drilling, LLC for Rig 103, marking a significant milestone for the Company's Zydeco Gas Project in Louisiana. The contract secures rig availability for the drilling of Zydeco-1 to a planned depth of approximately 10,000 feet, with drilling set to commence in the first week of July 2026. The well is targeting up to 8 Bcf of gas and 0.5 MMbbl of condensate/oil across multiple reservoir targets. Securing the rig materially reduces scheduling and cost risk via a fixed price contract, providing full cost certainty covering daily rate, mobilization & de-mobilization, and core drilling services. The Company is now focused on final operational readiness and site preparation ahead of spud.
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