UK-focused explorer Deltic Energy has put Pensacola’s estimated recoverable reserves at 302bn ft3 (about 9bn m3) on a P50 basis, it said in a February 8 stock-exchange announcement.
The well, drilled in the southern North Sea, confirms the company’s belief that the Pensacola gas discovery is one of the largest in the southern North Sea in over a decade, said CEO Graham Swindells.
He added that the well success “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.”
Deltic retains a 30% working interest in Licence P2252 alongside Shell (which farmed in for 65%) and ONE-Dyas (5%). Deltic has other prospects in the play, including Selene.