Providence Resources closing in on drilling deal

Irish explorer Providence Resources looks to be close to a deal with a rig contractor as it continues to ready itself for a return to drilling in Irish waters next year.

The Tony O’Reilly Jr-led company is due to drill at its 80%-owned Druid prospect, off the west coast, next June.

Last month, it opened a tender process for drilling rig firms and yesterday updated by saying it has issued a ‘letter of intent’ to a “leading contender”.