Premier Oil's Bluebell exploration well on UK Block 15/24 in the Central North Sea will be plugged and abandoned after the logs were water wet.
The next exploration wells to be drilled in the region are the Stingray and Carnaby wells. Both wells are planned to "spud" in early April with results expected in May; spudding is the oil industry term for piercing the surface of the earth with a drill.
In Pakistan the K-30 exploration well, which spudded on January 15th on the Kadanwari block, has been successful. The operator plans to tie the well into the production facility by the end of the second quarter 2012, delivering around 30m standard cubic feet per day.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Simon Lockett, Chief Executive Officer, said: "We recognised the geological risks of the Bluebell prospect and farmed down prior to drilling to manage this exposure. The K-30 result is very encouraging and continues our success in supplementing production in Pakistan through near-field exploration."
NR
-
How to invest in nuclear powerWe need nuclear power to go green, says Dominic Frisby. But there is a better option than huge power stations
-
Chase slashes its easy-access savings rate – is it time to switch?The Chase easy-access savings account has proved popular with savers thanks to its competitive rate and bonus deals. But, as the rate has dropped, has it lost its charm?
