Borders & Southern seeking Falklands drilling partners

Offshore staff

LONDONBorders & Southern (B&S) says the fall-out from lower oil prices is hampering its search for partners to co-fund drilling offshore the Falkland Islands.

Frontier exploration discretionary expenditure is an obvious first target for companies wishing to trim budgets, the company points out.

Earlier this year, B&S revised its reserves estimate for its Darwin discovery in the South Falkland basin upward to 360 MMbbl of recoverable condensate.

If appraisal drilling confirmed this assessment, the find would be commercial at current oil prices, the company claimed.

Technical work completed on B&S’ licenses so far this year includes a reservoir characterization study, a seismic inversion study, and a reassessment of the structural/stratigraphic evolution of the South Falkland basin.

Additional studies are under way other play types in the area covered by 3D seismic.

09/28/2015

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