Norwegian Pil "a company maker"

April 10, 2014

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. choke, “exceeding expectations”. This rate does not reflect the full potential from the well as it was constrained by the facilities on the rig.

Preliminary estimates by operator VNG Norge (VNG) put the size of the Pil discovery at 50-170MM boe. Partner Rocksource said the results could be a “company maker” for it.  

Partner Faroe Petroleum said the results were “clear evidence of a prolific reservoir”. VNG has also stated that “there remains considerable additional upside potential within the Pil closure, which was not proven by this first well”, according to partner Rocksource.

A sidetrack well is to be drilled immediately, using the semisubmersible drilling unit Transocean Arctic (pictured), following completion of the DST to appraise the lateral extent of the Pil discovery, said Faroe. The company added that a second sidetrack well to test further prospectivity in the neighboring Bue target is also being planned in immediate succession. 

Pil is in Production License (PL) 586, about 33km southwest of the Njord field and its associated production facilities.

VNG (operator) holds 30% in PL 586, with partners Spike Exploration (30%), Faroe Petroleum (25%), and Rocksource (15%).  

Rocksource CEO Chris Spencer said: “The upside potential, both within the Pil closure and in follow-up prospectivity within the licence, means that PL 586 could be a ‘company-maker’ for Rocksource.”

Graham Stewart, Faroe Petroleum CEO, said the DST results “considerably exceed expectations” and that it was within tie-back distance of the Njord infrastructure, in which it has a stake. 

Stewart added that Faroe’s drilling activities continue elsewhere, with ongoing drilling of the Butch East exploration well (Faroe 15%), adjacent to the Butch Main discovery (Faroe 15%) in the Norwegian North Sea, with results expected in the coming weeks.

 


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