IOG spuds Skipper well, names ex-Fairfield CEO as chairman

Independent Oil and Gas (IOG) has spudded the Skipper appraisal well in the UK part of the North Sea and named former Fairfield Energy chief executive as its chairman. 

Skipper lies in Block 9/21a in license P1609 in the Northern North Sea and is 100% owned and operated by IOG.

According to IOG’s update on Friday, the well was spudded last Saturday, July 23. The appraisal well is expected to take approximately 22 days to drill.

The operations are continuing on schedule and results are expected to be available approx. in mid-August, the company said.

The well is being drilled with Transocean’s 1974-built Sedco 704 semi-submersible drilling rig that came on contract on July 20.

The company said that the vertical well would be drilled to 5,600ft with the primary objective of retrieving good quality reservoir condition oil samples to optimize the Skipper field development plan.

 

New chairman for IOG

 

IOG also said on Friday that the company named David Peattie as its Chairman and Andrew Hay as Senior Independent Non-Executive Director, both with immediate effect.

Hay succeeds Paul Murray, who stepped down from the position.

IOG noted that Peattie has 35 years of experience in the oil and gas industry and was a former CEO of Fairfield Energy. He began his career in BP in 1979 where he held several technical, commercial and senior management positions including the position of Head of BP Russia.

The company stated that Hay has a corporate finance and capital market background and is currently a managing director of Edmond de Rothschild Group in London and the director of Edmond de Rothschild Securities UK. He is also a senior independent director at Aminex.

IOG also said that Mark Routh, who was the interim Chairman of the company, will remain in his role as CEO.

Routh said: “We look forward to welcoming David and Andrew to the Board of Independent Oil and Gas. David brings a deep sector knowledge, and strong track record to IOG and his significant oil and gas expertise will be of considerable value to the Company at this important stage in our journey, and in particular with our development and M&A plans.

“Andrew has an extensive track record in corporate finance and capital markets and his current role with Aminex brings broad and current oil & gas experience to IOG.”

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