Providence lines up more wells offshore Ireland

Offshore staff

DUBLIN, IrelandProvidence Resources has issued an update on its drilling/licensing activities offshore Ireland.

In the North Celtic Sea basin off southern Ireland, the company is in advanced stages of a farm-out for the Barryroe oil field. Negotiations include planned appraisal/ pre-development drilling during 2015.

Next year, the partnership (led by Cairn Energy) will start appraisal drilling on the Spanish Point gas/condensate field in the northern Porcupine basin off western Ireland, targeting reserves of up to 200 MMboe.

At the Dragon gas field in the St. George’s Channel (between eastern Ireland and west Wales), 3D pre-stack depth migration seismic reprocessing is nearing completion. The partners are working with UK/Irish government regulators on a potential field development, including the consent process for drilling of a development well.

Consultants have been appointed to work on the proposed DICE (Dragon Interconnector) system between the UK and Ireland.

Off northern Ireland, Providence has identified five anomalies on its acreage in the Rathlin basin based on full tensor gradiometry data. The Polaris oil prospect in the Rathlin Sound is the main exploration target, geologically on-trend with Rathlin Energy’s recent Ballinlea-1 oil discovery onshore northern Ireland.

Another appraisal well and an extended well test are expected to follow on Ballinlea early next year, results of which should de-risk Polaris in advance of drilling.

In the Kish Bank basin offshore Dublin, the company is seeking consent from regulators for acquiring seismic and drilling an exploratory well on the Kish Bank oil prospect.

09/30/2014

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