ExxonMobil began drilling its first well offshore Liberia on November 22, according to a statement by its junior partner.

Canadian Overseas Petroleum Limited (COPL) said November 23 that Exxon commenced drilling operations on the Mesurado-1 exploration well using the drillship Seadrill West Saturn. The Mesurado-1 well is some 50 miles offshore Liberia on Block LB-13 in some 2,500 metres of water. "The well, targeting oil in Late Cretacous sands, is the first well operated by ExxonMobil offshore Liberia," said Calgary-based junior independent COPL.

Exxon has an 83% operating interest in block LB-13 while COPL has the remaining 17%. offshore Liberia. The duo secured an extension in March on their block until September 2017. Exxon had said last month that the well was planned during November.

In contrast Australia-listed but London-based junior African Petroleum said November 23 that its Liberia production sharing contracts for its blocks LB-08 and LB-09 had expired and will not be extended, after efforts both to secure an industry partner and to negotiate an extension with Liberia had failed.

Seadrill West Saturn is an ultra-deepwater drillship with operational history offshore West Africa

London and Oslo-based drilling contractor Seadrill said in 3Q results November 22 that Seadrill West Saturn was awarded a one-well contract at $225,000/day by Exxon in Liberia – which is a direct continuation of its contract with ExxonMobil in Nigeria that was due to end December 8, 2016. "This results in an estimated total contract backlog increase of $9mn," it said on an upbeat coda to a disappointing set of results full of low day-rate charters on its drillships. Seadrill reported a loss of $656mn in 3Q 2016, chiefly due to an impairment charge on investments of $882mn.