Operator Shell’s Valaris 123 drilling unit is on its way from the central North Sea to the Selene well in the southern North Sea, UK explorer Deltic Energy said July 23.
Drilling at the high-impact, infrastructure-led exploration project is expected to start shortly and to last about 90 days.
Deltic estimates the Selene structure holds gross P50 prospective resources of 318bn ft³. Deltic is fully carried for its 25% working interest in the Selene well up to a gross success case well cost of $49mn. Dana is the third partner. Deltic now estimates its portfolio of upstream assets is worth multiples of its market value.
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