Does the last RNS confuse anyone else12 Mar 2021 08:26
This proposed side-track is more complex in nature than previous wells on Lancaster due to the incorporation of an intelligent completion and the challenges of delivering the well trajectory from the side-track location. As a result, the Company has concluded that it will not be possible to drill this well during the 2021 summer weather window without unacceptable operational and cost risk.
While no firm decisions have been made, the Company is now considering various options including:
i. drilling the side-track in 2022 following further planning activity during 2021;
ii. drilling the side-track together with the previously contemplated water injection well as a combined programme in 2022; or
iii. drilling the side-track in 2022 and the water injection well in 2023.
All options for potential further development activity are subject to factors which are or may be outside the Company's control which include field performance, prevailing oil prices and support from relevant stakeholders and counterparties.