Chariot hit by rig demand

African-focused oil and gas explorer Chariot said it was being hampered by the difficulty in hiring a rig at the right price as demand made it more expensive. The rig it had anticipated to be available for the fourth-quarter for drilling on its Tapir South well has been contracted by another operator for a longer programme. It said: “Whilst it is disappointing not to have secured a rig to drill Tapir South this year, we continue to negotiate other options [at] commercially attractive rates.”