1st Jul 2016 06:43
LONDON (Alliance News) - EnQuest PLC on Friday said the implementation of its 2016 drilling programme in the Central North Sea has been "excellent".
The oil & gas production company said drilling of the Scolty/Crathes development wells was completed ahead of schedule and under budget, with the Scolty reservoir on prognosis while the Crathes reservoir exceeded expectations, with a small reserves upgrade.
EnQuest added that assessment of results at the Eagle exploration well is underway, with preliminary analysts indicating that the Fulmar oil bearing reservoir was encountered with a vertical thickness of 67 feet and excellent reservoir properties.
"Following last year's production growth and unit operating cost reduction successes at GKA, this latest success demonstrates EnQuest's ability to create value from maturing assets and from near field exploration opportunities," EnQuest North Sea President Meil McCulloch said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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