Member News

Sign up for email updates

To ensure you're always up to date on the latest news and guidance in the Offshore Energies industry sign up.

Email updates
Member News19th Jan 2024

Deltic Energy updates on Pensacola resources

A competent person’s report (CPR) for the Pensacola Zechstein Reef estimates gross P50 hydrocarbons initially in place of 326mn boe, Deltic Energy said January 19. It said this figure was in line with its own estimate of 342mn boe.

The report, by RPS Energy, came up with two valuations for the field: a gas-only option, or the more capital-intensive oil and gas development. RPS estimates 2C contingent resources, net to Deltic, of 21.8mn boe in the combined case and 15mn boe in the gas only case. In both cases, production from the southern North Sea field would be piped to Teesside.

Subsequent to the CPR work, appraisal well data from the analogous Crosgan Zechstein discovery has been released. This supports the potential for thicker, higher quality reservoir across the crest of Pensacola. Progress continues to be made on both the Pensacola and Selene farm-out processes with a significant level of interest from industry, Deltic said in its stock-exchange filing.