RE: Frustration11 Oct 2022 20:45
Pensacola is a Zechstein Reef prospect located to the north west of the Breagh gas field in the Southern North Sea. Deltic estimates the prospect to contain gross P50 Prospective Resources of 309 BCF, with a 55% geological chance of success, which will rank Pensacola as one of the highest impact exploration targets to be drilled in the gas basin in recent years.
The Pensacola well is also being highly anticipated by the industry for its potential to unlock a significant new source of gas to the UK from the Zechstein Reef play, which has been successfully produced in NW Europe from Poland to The Netherlands. It also has the potential to demonstrate that the UK still has a significant level of previously unrecognised exploration upside which can deliver cost competitive natural gas to UK based businesses and homes and support the UK's Net Zero targets.