Deltic Energy has confirmed that it and joint venture partner Shell U.K. Limited have made a positive well investment decision to drill the high-impact Pensacola Prospect on Licence P2252 in the UK Southern North Sea. Shell and Deltic have subsequently confirmed to the Oil and Gas Authority that the contingent well commitment is now firm.
The drilling of this key well on Pensacola has the potential to be transformational for Deltic and is a vital step in evaluating the highly prospective Zechstein reef play, which in turn has the potential to revitalise exploration in the Southern North Sea.
Shell expects the well to be drilled in May 2022 and this timing allows the joint venture to take advantage of a drilling unit that will be contracted by Shell as part of a multi-well drilling campaign. This also brings advantageous day rates and operational efficiencies for the JV. Deltic remains fully funded for its 30% working interest in the well. Read more…
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