North Sea Energy Spuds Bagpuss Prospect

Published at 03:40PM - 20/07/16

North Sea Energy announced it has been advised by Premier Oil UK Limited that the spudding of the Bagpuss well occurred on July 18.

Drilling of the 13/25-A well has started, undertaken by the Ocean Valiant offshore drilling rig and Premier Oil estimates that results will be available in the beginning of August.

“The well is to be drilled to approximately 1,550 feet sub-surface to evaluate the prospectivity of the reservoir internal beneath the Chalk and above the granite basement,” North Sea Energy explained.

North Sea Energy Spuds Bagpuss Prospect

Operations at the Bagpuss prospect started on July 14, 2016, when the rig owned by Diamond Offshore Drilling left the Solan development and arrived on site on July 16, 2016.

Premier Oil is the operator of the well, with a 40.1% working interest, in partnership with Maersk Oil UK (25%), NSE through its wholly-owned subsidiary North Sea Energy (15%), EnCounter Oil (13.27%) and Groliffe (6.63%).

According to a previous statement issued by North Sea Energy, the costs related to the drilling of the initial Bagpuss prospect well are 100% funded through its farm-in agreement with Maersk, subject to a cap, and are 50% of North Sea Energy’s costs of a Bagpuss subsequent well, should one be drilled.

Bagpuss and Blofeld Could Hold 2bn boep

North Sea Energy holds two high impact opportunities in the UK North Sea: the Bagpuss and Blofeld prospects, located in blocks 13/24c and 13/25 of the UK Continental Shelf (UKCS).

Bagpuss is a heavy oil prospect on the Halibut Horst, which is a well-defined basement high within the Moray Firth.

The well targets lower cretaceous sands, Jurassic sands and a granite wash formation that is only 1,400 feet sub-surface.

Analysis of the 1981 discovery well result suggests that the Bagpuss and Blofeld prospects together could contain up to 2 billion barrels of oil in place.