Premier spuds latest Falklands target

UK-based Falklands explorer Premier Oil has spudded its second 2015 exploration campaign well in the north Falklands basin.

The Eirik Raude. From Ocean Rig.

If successful, the 14/20-1 well on Isobel Deep in exploration license PL004a has the potential to open up a new development area, according to partner Rockhopper Exploration.

It follows the successful exploration well on the Zebedee prospect, also drilled by Premier Oil in the north Falkland basin and announced last week and comes as the operator continues to work on plans for the first phase development of the Sea Lion field in the north Falkland basin.

The well, part of an overall five to six well exploration campaign in the Falklands by Premier and Noble Energy under a rig sharing agreement, is being drilled using the Eirik Raude semisubmersible drilling rig and is expected to take about 30 days. No coring or testing is planned.

The well will be the first test of the F3 fan systems, which are mapped as entering the basin from the south east margin and comprise a sequence of stacked reservoirs. 

The Isobel/Elaine complex is estimated to contain mid case un-risked gross prospective resources, based on the operator’s estimates, of 243 MMbbl, says partner Falklands Oil and Gas.

Rockhopper Exploration says the well is targeting gross Peam resources of 72 MMbbl, although, it says, the complex as a whole in the area has gross mean prospective resources of just over 500 MMbbl. 

Rockhopper CEO Samuel Moody says: "The Isobel Deel well is a high risk high impact well which has the potential, in the success case, to open a new development area."

Read more:

Falklands success for Premier Oil. 

Premier starts 2015 Falklands campaign

Initial phase FPSO for Sea Lion

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