Fossil Energy – Discovery
Deltic Energy has reported a significant gas and oil discovery at the Shell-operated Pensacola prospect in the Southern North Sea.
In an operational update on Wednesday Deltic said the find at Pensacola could represent one of the largest natural gas discoveries in the Southern North Sea in over a decade.
Spudded in November using the Maersk Resilient, the Shell-operated Well 41/05a-2 reached a total depth of 1,965 metres and confirmed the presence of mobile gas and oil in the primary Zechstein Hauptdolomite carbonate target interval via wireline logs.
Deltic said pre-drill volumetrics for Pensacola had been confirmed by the well, with a P50 estimated ultimate recovery of 302 billion cubic feet (bcf).
“This discovery is a major milestone in the development of our company as we continue to execute our exploration-led strategy and progress our portfolio of high-quality drilling opportunities as we seek to create value for our shareholders,” said Deltic chief executive Graham Swindells.
“We believe that the Pensacola discovery will open a new Zechstein play in this mature basin and highlights the remaining potential of the North Sea as a source of further discoveries which can provide domestically produced natural gas, supporting UK energy security while we transition toward a net zero economy,” he added.
