UK independent Premier Oil is planning to spud the Bagpuss heavy oil prospect in the Moray Firth in the North Sea this month, later than initially expected.
Premier oil will use the Ocean Valiant semisubmersible drilling rig, which is currently preparing to move off location at the Solan field following completion of drilling activities there.
Premier Oil had planned to spud the well, which is block 13/24c on the Halibut Horst, earlier this month. Results from the Bagpuss well are expected early in August.
Back in 2013, when the company farmed into the Bagpuss acreage, Premier’s analysis of the 1981 discovery well result, which was not cored or tested, suggested that the Bagpuss and the nearby Blofeld heavy oil prospects together could contain up to 2 billion bbl in place. Analysts at Wood Mackenzie say a discovery here could open up a new play.