LONDON, UK: Longboat Energy, the rising full-cycle North Sea E&P company, introduced the graduation of drilling operations on the Kveikje exploration well (Company 10%).
Kveikje is the first prospect in licence PL293B, which lies in an space north of the giant Troll field within the Norwegian North Sea with many producing fields and significant infrastructure.
The Kveikje well will be drilled near recent discoveries, mendacity c. 8km from the Swisher discovery and c. 10km from the Toppand discovery. If successful, Kveikje could potentially form a half of an space cluster development.
The prospect is an Eocene Balder Formation injectite with seismic amplitude support. Injectite reservoirs are typically characterised by excellent reservoir properties, with recent exploration successes of this type together with the King and Frosk discoveries within the Balder and Alvheim space respectively. The exploration well has additional potential upside within the underlying Paleocene Rokke and Late Cretaceous n’Roll secondary prospects.
Kveikje is estimated to contain gross imply potential resources of 36 mmboe with additional potential upside estimated at seventy nine mmboe on a gross basis. The chance of success related to the Kveikje prospect is 55% with the important thing dangers being trap presence and seal integrity.
Rokke and n’Roll have an additional 127 mmboe of gross imply potential useful resource with chances of success within the vary of 14%-34% which haven’t been reviewed by ERCE and are based on Operator estimates.
The drilling of the Kveikje well 35/10-8S is being undertaken by the Deepsea Stavanger semi-submersible drilling rig and operated by Equinor and is anticipated to take as much as 4 weeks to drill.
Helge Hammer, Chief Executive of Longboat, commented: “I am happy that we have now commenced drilling operations for the fifth exploration well in our drilling programme.
“Longboat Energy’s 2022 exploration programme offers shareholders a distinctive alternative to gain publicity to a drilling portfolio of three wells targeting net imply potential useful resource potential of 69MMboe1 with an additional 256 MMboe1 of upside.”
www.longboatenergy.com