IOG Finds Oil at North Sea Skipper Well

Published at 11:00AM - 17/08/16

Independent Oil and Gas (IOG) announced it has experienced delays in the North Sea Skipper well, extending the duration of the well by thirteen days.

Nevertheless, the company was able to successfully drill the well and find good quality oil samples that will enable it to optimise the field’s development plan.

“The initial data acquired from the Skipper well, our first operated well, is an excellent result for IOG and operations proceed without any reported safety incidents,” IOG CEO Mark Routh, said.

IOG Finds Oil at North Sea Skipper Well

The Skipper appraisal well is located in block 9/21a in licence P1609, in the Northern North Sea and is fully owned and operated by IOG.

According to a statement by IOG, the testing of the samples is expected to be finalised in September.

IOG Finds Oil at North Sea Skipper Well
IOG CEO Mark Routh

The well was drilled to 3,860 feet and the samples have already been dispatched to Aberdeen for full analysis.

If the foreseen oil quality is confirmed in the lab tests, “the development will require fewer wells than previous assumptions in the CPR, thereby reducing the base case development costs,” the company informed.

IOG Progress After Skipper Reservoir Discovery

“By retrieving the oil samples, the primary well objectives have been fulfilled and we have proved that the oil is moving in the Skipper reservoir.  This is a significant step for IOG towards achieving the target of being a company with 100 million barrels of oil equivalent (boe) heading for development, in assets 100% owned as operator,” the CEO added.

“We now move on to drill the exploration prospects, where any further oil discoveries would provide additional upside and look forward to analysing the results in order to progress the Skipper field development plan as soon as possible, in parallel with our exciting gas assets in the Southern North Sea,” he stated further.

Meanwhile, the company started drilling two exploration prospects in the Lower Dornoch and the Maureen formations beneath the Skipper oil field, with hopes of 46 million barrels of oil in place.