Premier Oil abandons North Sea well

FTSE 250 oil and gas exploration and production firm Premier Oil has reported that the East Fyne Appraisal well in the North Sea, which it operates, is being plugged and abandoned.

FTSE 250 oil and gas exploration and production firm Premier Oil has reported that the East Fyne Appraisal well in the North Sea, which it operates, is being plugged and abandoned.

The news comes after the firm encountered 11 feet of gas bearing sand and eight feet of oil bearing sand in the well, the thickness of which was at the lower end of the pre-drill estimate.

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