IOG Spuds Harvey Appraisal Well

Laxman Pai
Thursday, August 8, 2019

UK based Independent Oil & Gas (IOG) has confirmed that the Maersk Resilient rig spudded the Harvey appraisal well on 6 August 2019.

The North Sea firm said in a press release that as previously indicated, completion of the well is expected to take approximately two months in the success case.

According to the development and production company focused on becoming a substantial UK gas producer, Harvey is centrally located within IOG’s asset portfolio in UK Southern North Sea Blocks 48/23c, 48/24a, and 48/24b, close to the Thames Pipeline export route.

The primary objective of the well is to confirm gas volumes which management estimate at 85/129/199 BCF Prospective Resources in the Low/Best/High case, with a 63% Geological Chance of Success¹, and secondly to demonstrate reservoir deliverability.

If successfully appraised, the additional scale and synergies of a Harvey development could substantially enhance the portfolio’s overall value and returns.

Andrew Hockey, CEO of IOG, said: "Spudding the Harvey appraisal well is an exciting development for IOG and potentially a major catalyst for the business. Our objective is to prove up a substantial, high-quality reservoir in the heart of our core asset base which would create significant shareholder value over and above our recently announced farm-out."

Andrew added: "Success at Harvey could trigger a further significant near-term cash payment plus valuable life-of-field royalties should our designated partner exercise its right to farm in. We are pleased with our choice of rig and contractors and look forward to drilling the well safely and successfully."

The Maersk Resilient is a modern, high-spec rig with a strong operating history and an excellent safety record. The designated well operator is Fraser Well Management, who have extensive experience in drilling successful wells in the UK Southern North Sea (SNS).

In addition, Halliburton Manufacturing and Services Ltd have been contracted to provide offshore drilling services for the well.  

Categories: Drilling Well Operations Rig Wells

Related Stories

Allseas Scores Gyda Platform Removal Job

P-68 FPSO Ready for Deployment

Aasta Hansteen Output Can Exceed Max Capacity

Utgard Comes on Stream

New Age Sells Stake in Marine XII

Woodside Backs Seismic Data Acquisition Company

Equinor Finds Gas in the Norwegian Sea

FPSO & IPO: Growth of an Operator

Europa Lands High Impact Venture Offshore Morocco

Monitoring, and Addressing, Crude Quality in Real-time

Current News

Australia Reviewing Equinor Environmental Plan

Equinor, SSE Win Contract for Largest Offshore Wind Project

Liberator Pilot Well Plugged and Abandoned

Petrofac Sells Mexico Assets to Perenco

Petronas Q2 Profit Rises 8%

Allseas Scores Gyda Platform Removal Job

Monitoring, and Addressing, Crude Quality in Real-time

Dominion to Build Largest US Offshore Wind Farm

Maersk Drilling Rig Extended by Equinor

IUMI Reports Cut in Offshore Insurance Premiums

Subscribe for OE Digital E‑News

OE Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week