Spirit Energy has encountered disappointing results by drilling the Cassidy exploration well in the Norwegian sector of the North Sea within the Oda license.
Spirit is the operator of the Oda PL405 license with a 40% interest and the co-venturers are Faroe (15%), Suncor Energy Norge (30%), and Aker BP (15%).
The results of the Cassidy exploration well 8/10-7S within the PL405 Oda licence were announced by Faroe on Thursday, December 27.
According to Faroe, the well encountered 13 meters of water bearing Jurassic Ula formation sandstones. Data acquisition has been undertaken. The well was drilled to a measured depth of 3,100 meters using the Mærsk Interceptor rig and will now be plugged and abandoned as planned.
Graham Stewart, CEO, commented: “Whilst the result of the Cassidy well is disappointing, Faroe has maintained its above average exploration success rate in 2018 with two commercial discoveries out of four wells so far this year: Iris Hades in Norway (Faroe’s largest discovery to date); and Agar in the UK.
“We remain active over the coming months, with the Brasse East well currently drilling, and a further three exploration and appraisal wells so far committed for drilling in H1 2019.”