11th Dec 2019 11:20
(Alliance News) - RockRose Energy PLC on Wednesday said the Noble Houston Colbert jack-up drilling rig is preparing to drill the first of two planned infill development wells on West Brae, offshore Scotland.
RockRose is the operator of West Brae, in which it has a 40% working interest.
The oil and gas company said these wells are designed to access reserves of over 8 million barrels and to support Brae complex output by up to 6,000 barrels of its per day.
One well is expected to come onstream before the end of the first quarter of 2020 while first oil from the other well is anticipated in the second quarter of 2020, RockRose said.
Overall, the company said it set to participate in at least seven wells before the end of 2020.
"This will add significant production and value to the company, as we continue to deliver on our strategy; growing production and generating surplus cashflow that can be reinvested to maximise returns for shareholders," said Executive Chair Andrew Austin.
RockRose shares were trading 0.1% lower in London on Wednesday morning at 1,713.50 pence each.
By Evelina Grecenko; [email protected]
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