UK-based exploration firm Faroe Petroleum raised has £65 million in a stock market placing, which had hoped to raised £45 million. The firm, focused on Norway, the Atlantic Margin, and the North Sea, the cash will be used to pursue…
Success of the Butch South West prospect, drilling on which has started, could prompt a new stand alone production facility in the North Sea, according to Faroe Petroleum. Drilling on the Centrica-operated Butch South West exploration well 8/10-6S…
VNG Norge is to start a second sidetrack well to further assess potential at the Norwegian Sea Pil discovery after successful results were announced from an initial side-track appraisal well earlier this week. The second side-track well…
Tullow Oil has announced it plans a 4000km sq 3D seismic acquisition program next year in block 54 offshore Suriname. In January, the company agreed to a production-sharing contract that gave it a 50% operated stake, in partnership with state-owned Staatsolie…
Aberdeen-based explorer Faroe Petroleum it to take on its first operated production in the North Sea through a £35million to take over operated stakes in two southern North Sea gas fields from Tullow Oil. Faroe will take a 60% operated stake in the Ketch field and a 53…
Wintershall Norge has made a gas and condensate discovery in the Solberg well in the Norwegian Sea. Exploration well 6407/1-7 and the subsequent sidetrack 6407/1-7A, in production license 475, encountered gas and condensate in the main target lower Cretaceous Lange formation…
Partners in the Pil exploration well 6406/12-3 S have carried out “a highly successful production test” (Drill Stem Test/DST) on the well, on the Norwegian Sea’s Halten Terrace. The well flowed at 6710 bo/d of 37° API oil from a 56/64in…
An oil and gas discovery has been made on the Pil exploration well, which sits in the Norwegian Sea. London-based Faroe Petroleum said the Pil well (6406/12-3S) encountered a gross hydrocarbon-bearing reservoir section with about 135m…
The Solberg prospect, operated by Germany's Wintershall (35% equity), is 4km northeast of the Tyrihans field and 8km southeast of UK-based explorer Faroe Petroleum’s Maria discovery (2010). Drilling is being carried out using the…
Partners on the shut-in Norwegian Njord field are considering options for the area’s future, including a potential new floating production vessel or platform. The floating steel Njord A platform, operated by Statoil, was shut-in during July…
Statoil has made an oil discovery on the Snilehorn prospect in Norwegian Sea. Oil was found in discovery well 6407/8-6 and sidetrack 6407/8-6A. Image: The West Navigator drillship, which has started drilling on the Novus prospect…
Faroe Petroleum completed the acquisition of a 10% non-operated interest in the BP-operated East Foinaven oil field and a 0.5% interest in the West of Shetland Pipeline System, both from Marubeni Oil & Gas (North Sea) Ltd . The net consideration payable for the acquisition of the interests…
Faroe Petroleum has won acreage in the Dreiki area on the Icelandic Continental Shelf. Faroe will operate seven license blocks south of the Jan Mayen Ridge inside the Arctic Circle northeast of Iceland. Faroe will hold 67.5% interest in blocks IS6708/8…
WilPhoenix rig Premier Oil has plugged and abandoned its UK North Sea prospect Spaniards East after the well came up dry, the company announced on 6 November 2012.The well was spud by the WilPhoenix rig in mid-October and drilled to a total depth of 10…
Faroe's P1161 license Poor quality oil and small resource sizes are to blame for Faroe Petroleum opting to return its 50%-operated P1161 license in the West of Shetland area, the company announced on 2 November 2012.Faroe CEO Graham Stewart said the P1161 license…
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