The UK focused oil and gas company i3 Energy said that the initial results from its Liberator Well 13/23c-11 in the North Sea showed the sand thickness above the oil-water contact was “lower than anticipated.”
The 13/23c-11 well is being drilled by the Borgland Dolphin semi-submersible drilling rig on i3 Energy’s Liberator Field. By Monday, the well had reached total depth (TD) in the Valhall shale as planned.
The well has drilled approximately 220 feet measured depth (MD) of sand in the Captain reservoir. Initial evaluation of the Measurement While Drilling logs indicate that, at this location, circa 20 ft MD of the Captain sand with oil indications has been found above the expected oil-water contact (OWC) of 5270 ft total vertical depth subsea (TVDSS), i3 said.
“Wireline logging will now be carried out as per the planned data evaluation program. The Company will provide further updates once it has acquired and analyzed wireline logging data,” the company said.
CEO Majid Shafiq said: “We are pleased to have encountered a thick Captain sand at this location including oil indications in the upper Captain sand above the oil-water contact. Initial interpretation is that the sand thickness above the OWC is lower than anticipated. Definitive results will be determined and the market updated in due course.”
According to Alliance News, shares in i3 Energy closed 26% lower in London on Monday at 29.00 pence.
Offshore Energy Today Staff
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