Xtract Energy has recently been advised by Chevron that the Noble Byron Welliver is now on site at the P2-10 drilling location and the well has spudded. P2-10 drilling was expected to begin in early December 2011 but the rig move was delayed due to the weather conditions that prevailed throughout December 2011. The well program is expected to take up to 100 days.
The P2-10 appraisal well targets an existing gas discovery on the P2 block and one of the main objectives is to evaluate commercial hydrocarbon flow rates from an extended reach horizontal well within the Rotliegendes sandstone reservoir. Xtract has an overriding royalty arrangement of up to 5 per cent of sales value from Chevron and TAQA’s share of gas delivered into the Dutch National Transmission System and condensate delivered onshore.
Offshore Energy Today Staff, January 11, 2012;