Hague and London Oil announces operational update
Hague and London Oil has announced an update on its operations in the Dutch and UK Southern North Sea.
Spudding of Andromeda North Well
The Andromeda North well has spudded in Block 42/12, in the Southern North Sea, in which HALO has a 45% working interest (Spirit Energy 55%).
The Andromeda North well is targeting ca. 40 Bcf of resource, within the single well and is planned to be drilled to a total depth in excess of 3,000 metres. The well is expected to take ca. 90 days to reach total depth, logging and in the event of a discovery will be suspended as a future production well.
Extension of E15c Licence
Elsewhere, the Group has received an extension to its E15c exploration licence in the Dutch North Sea until the start of 2021. The E15c licence contains the ca. 20-50Bcf Maple prospect which is now scheduled to be drilled in 2020.
Maple is a Triassic, sandstone target (Bunter fm.); the partners are Neptune Energy (30%, Operator), HALO (20%), GasPlus (10%), EBN (40%).
Maple is proximal to the existing Vincent Discovery (HALO 30%) and the F-16E production facilities (HALO 4.147%); in a success case Maple (and possibly Vincent) could be tied-back to F-16E for a “fast track” development. The well is considered low cost and of moderate risk for 2020 drilling.
OGA Resolution Process
Recently, the Oil and Gas Authority of the UK (OGA) opened, on its own initiative, a non-binding dispute resolution (NBDR) investigation into the prioritisation of access to Cygnus capacity in relation to transportation and processing services for gas from the Pegasus West field, taking into account in particular: the nature and timing of the various Cygnus resource progression opportunities; the plant operating mode limitations; and the pre-investment made in future facilities at the time of Cygnus consent.
The parties to the investigation are on the one hand, the owners of the Cygnus hub, comprising Neptune Energy and Spirit Energy, and on the other hand, the owners of the Pegasus West field, comprising Spirit Energy and HALO (55%/45% respectively).
The company will provide further updates as the investigation progresses as well as any alternatives to the Cygnus hub for the Pegasus field development.
Andrew Cochran, Chairman and Interim Chief Executive of Hague and London Oil, commented: “HALO is very pleased to announce the drilling of Andromeda North, particularly as this is our first well on the UK Continental Shelf.
“While the previous Pegasus West only development plan is being reviewed, the Andromeda North well demonstrates progress within, and commitment to, the Greater Pegasus Area overall.
“Additionally, the company is beginning to plan for a broader drilling campaign in the Southern North Sea in 2020, with Maple being the initial target having had the licence extended after our additional work last year.”
Source: Energy-pedia