Results of the T-Rex and Bolan exploration well, Norwegian Sea
Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in the Atlantic margin, the North Sea and Norway, announces that oil was discovered on both the T-Rex and Bolan exploration prospects in the Norwegian Sea (Faroe 30%), on licence PL431 (blocks 6506/12, 6406/2&3 part), but not in commercial quantities.
The 6406/3-9 well, which is the first well to be drilled in the licence, reached a total depth of 4,183m within shales of the Lange Formation. The well targeted Lower Cretaceous sandstones of the Lange Formation (T-Rex) and Lysing Formation (Bolan). T-Rex was the primary target and preliminary results based on extensive coring, wireline logs and pressure data have confirmed the presence of oil, but in a thinner than expected reservoir interval, and the well will therefore not be production tested. Fluid samples were successfully recovered in T-Rex indicating oil of a quality in line with the fluids seen in the original discovery well 6506/11-2 (drilled by Statoil in 1991). The Bolan prospect in the shallower Lysing Formation also encountered an oil column, within an inter-bedded sandstone package. A similar extensive data gathering programme was performed on the Bolan prospect as with T-Rex.
T-Rex and Bolan are situated next to the Statoil operated producing Smørbukk oil fields on the Halten Terrace in the Norwegian Sea. Both the T-Rex and Bolan discoveries extend potentially over very large areas within licence PL431. Additional evaluation is required in order to delineate the areal extent of the oil bearing layers, before any decisions in terms of a further appraisal programme can be made.
The drilling operation was undertaken by Maersk Oil as operator (70% interest), using the Transocean Winner drilling rig, and the well is now being plugged and abandoned.
http://www.klif.no/nyheter/dokumenter/maersk_trex_miljorisikoanalyse151110.pdf p7-10: Location/map, Key information on the well, The drilling rig, Well design and reservoir properties. p14: "As T-Rex is in an environmentally sensitive area and near vulnerable seabed communities, an assessment of environmental risk related to operational discharges has been included in the ERA. One should, however, keep in mind that T-Rex is located at Haltenbanken; a mature area with several producing fields." p19: "Based on information from Maersk Oil on the geological properties of the reservoir; an oil type with similar properties to the Morvin oil is expected if hydrocarbons are found in the prospect." and p56: "The area is well known by Maersk Oil, and based on the geological properties of the reservoirs that will be exploited, an oil type similar to the Morvin oil is expected if hydrocarbons are found in the prospects. p49: "Applications, permits and corresponding background documents from drilling operations during 2009 -2010 have been used for the qualitative analysis of T-Rex. Reference for this qualitative analysis for T-Rex includes relevant drilling operations like Fogelberg, Ronaldo, Pumbaa and Caerus." p70: "Fuegro Survey Ltd (2010). PL-431 Drilling hazard and habitat assement survey, Site survey preperad for maersk Oil." and p71: "Wellpro Academica. (2010). Well blowout and dynamic wellkill simulations Exploration well 6406/3-9 – T-Rex (PL 431) Maersk Oil Norway AS
116 days almost up. And in 41 days (apr10) the Transocean Winner is under contract with the next client.
The Kalvklumpen drill... read somewhere they were drilling on bad old 2D seismics. Almost no chance from the start. Is that right? Any thoughts why they went after it? Good feeling about T-Rex. Hope it gives up its secrets and is good and fat updip! GLA
If this ain't a T/O candidate, I've never seen one. For a company this size FPM holds and handles its portfolio like the croupier of the North Sea. Their contacts and the current situation in the upstream business... Ask yourself: Which Major or ambitious 'peer' wouldn't want to get their hands on a selffunding FPM with these assets and prospects?
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.