The independent oil and gas exploration and production company Faroe Petroleum has reached target depth on the Butch East exploration well 8/10-5S and its appraisal well 8/10-5A without reaching hydrocarbons.
The Butch East well is near the 2011 Butch discovery and about 213 feet deep in the Norwegian North Sea. The Ula field is about four miles northwest, Tambar field about six miles southwest and the Gyda field approximately 12 miles south.
Centrica is performing the drilling operations on the Butch East well, which spudded in December 2013. The total depth reached is the appraisal well, 8/10-5A is more than 7,568 ft. The Butch well targets the Upper Jurassic reservoir of the Ula formation.
The drilling is performed by the Maersk Giant drilling rig, which Centrica will move to the Butch South West well now that Butch East has hit its target depth. The Butch East 8/10-5A well will be closed and abandoned.
According to a company statement, the Butch South West well is structurally independent and the company is optimistic about its potential.