LONDON – Premier Oil has failed to prove further reserves east of the Spaniards oil field in the UK central North Sea.
The Spaniards East well was drilled in block 15/21, reaching a TD of 10,694 ft (3,259 m). It encountered 75 ft (23 m) of Jurassic sands, which were interpreted to be water bearing following logging.
Tony Craven Walker, chairman and interim CEO of partner Serica Energy, said: “There was a reasonable pre-drill expectation that the Spaniards discovery extended over a wider area, and given its proximity to existing production facilities, could therefore be commercial.
“Whilst a full analysis of the well results will be required before a final conclusion can be reached, the initial interpretation now indicates that the accumulation is likely to be confined to a more limited area around the original discovery well.”