Providence increases stake in Dunquin concession offshore Ireland

Offshore staff

DUBLIN, IrelandProvidence Resources has agreed to acquire Atlantic Petroleum’s 4% stake in frontier license (FEL) 3/04, 170 km (106 mi) offshore southwest Ireland.

Pending Irish Ministerial approval, Providence’s equity in the license will increase from 16% to 20%.

FEL 3/04 is in 1,500 m (4,921 ft) of water in the southern Porcupine basin. Its main identified prospect is the lower Cretaceous Dunquin South carbonate structure, with potential resources of 1.389 Bboe.

The ExxonMobil-operated 44/23-1 Dunquin North exploration well, drilled on the concession in 2013, encountered a 44-m (144-ft) residual oil column in a giant porous, over-pressured lower Cretaceous carbonate reservoir.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...