Next well spudded in Longboat's Norway campaign
UK operator Longboat Energy announced on January 4 that the fourth well in its seven-well campaign off the coast of Norway had been spudded.
The exploration well was spudded on December 31 at production licence PL1060, which is operated by Norway's Equinor with a 31% stake. Longboat has a 9% interest, while OKEA has 40% and Chrysaor 20%. The well is targeting the Ginny and Hermine prospects, estimated to hold 41mn and 27mn barrels of oil equivalent in gross mean prospective resources respectively.
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Longboat estimated the chance of success 27% for Ginny and 22% for Hermine. The West Hercules rig is expected to take five weeks to drill the well at a cost of $2mn net to Longboat, the company said.
"A discovery in the Ginny and Hermine prospects could be developed rapidly through use of the existing infrastructure, notably through the OKEA-operated Draugen platform or the Equinor-operated Njord infrastructure," Longboat CEO Helge Hammer commented.
Longboat will be involved in the drilling of a total of seven wells at prospects it farmed into in a deal last year. The first was drilled at the Var Enerji-operated Rodhette prospect in mid-September and led to a gas discovery, while the second at Equinor's Egyptian Vulture prospect yielded a commercial oil find. The third well at the Aker BP-operated Mugnetind prospect also led to a minor oil discovery.
"With evaluation underway to quantify the upside resource potential at the material Egyptian Vulture discovery, Longboat is now looking forward to drilling Ginny and Hermine as we continue our fully funded programme with the Kveikje and Cambozola wells spudding in the spring," Hammer said.