Member Info for Rivendell666

EnQuest has announced the completion of its acquisition of the Bentley field, one of the North Sea’s largest untapped discoveries, from Whalsay Energy.

The company announced back in April that it was buying the field from Whalsay for up to £30million, the majority of which would come through deferred payments depending on revenues from the field.

Bentley, once estimated to be able to produce up to 300million barrels using enhanced recovery techniques, lies within 10miles of the EnQuest Kraken field and the firm’s newly-acquired Bressay asset.

EnQuest said previously that the deal was conditional upon the Oil and Gas Authority granting an extension to the Bentley licence, P1078, whose term was due to expire on June 30.

Earlier this year, Steve Kew, a former director of the collapsed firm Xcite Energy which tried to develop Bentley, said he wished EnQuest success.

He said the field is not expected to be economic below $80 a barrel oil price and developing Bentley and Bressay in tandem would be “obvious”.

““That’s the key thing, it’s going to require a lot of wells to get the field developed. It’s not a field that can be drained with a few wells, it requires a lot of wells which is where the expense is”, he said.

EnQuest has already announced it is considering developing Bressay via the Kraken FPSO but hasn’t given the same clarification on Bentley.

Bentley lies 85 miles south-east of Shetland.
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Grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

From Energy Voice

Don't think she'll be telling Porky's ....!

....

Just making the point that a low SP is not the end of the world for 88e. Short term investors may panic but those who might buy us out know that fossil fuels will be of major importance in the coming decades

and long term .....

""""Royal Dutch Shell Plc is pushing ahead on its massive deep-water drilling plan in Mexico, even as it doesn’t foresee production starting under the current government. The global oil major plans to drill four wells this year, and a similar amount next year, said Alberto de La Fuente, Shell’s Mexico country chief. It’s part of a drilling campaign that will include 10 to 13 wells and cost from $800 million to $2.4 billion. """

https://www.rigzone.com/news/shell_plans_major_drilling_in_mexico-26-feb-2020-161210-article/?utm_campaign=DAILY_2020_02_27&utm_source=GLOBAL_ENG&utm_medium=EM_NW_F1

https://ourworldindata.org/causes-of-death

One symptom is o posting on the wrong board

we're not actually dead ..........

https://www.instagram.com/p/BteCB6eg9Gb/?utm_source=ig_twitter_share&igshid=3cd5ceoqd21y

Not sure which rig but you get the general idea....

https://www.youtube.com/watch?v=R6I9aDl7STc

Thanks for that. I get the feeling a few hundred feet of free-flowing, light, sweet oily rock will bring us all smiles in the near future.
That's what I asked Santa for, anyway .......

I seem to remember that Baker Hughes were given the task of analysis of the fracking methods and improving same. Have we heard anything about that ?

To all 88'ers

Let's hope the video was for the benefit of share holders and not to impress city slickers for a quick CR.

https://www.investegate.co.uk/pantheon-resources--panr-/rns/company-update/201911060701424386S/

""""As previously advised, the process to farm out a working interest in some or all of Pantheon's Alaskan projects is underway. There has been interest from a number of leading domestic and international Oil and Gas Groups in evaluating the opportunity and the Company has also received interest from significant non-industry parties. A number of parties have already visited the data room, with others currently preparing to visit. The scale of the opportunity, i.e. multi billion barrels of Oil in Place, and the geographic location of the discovered resources has attracted the interest of some major companies

Pantheon holds a 90% to 100% working interest ("WI") in c.177,000 gross acres on the North Slope of Alaska, which contains potential for an estimated 1.2 billion barrels of oil recoverable. This includes two discovered oil accumulations which contain significant oil in place resources. Advantageously, the Company's acreage is bisected by both the Dalton Highway and the Trans Alaskan Pipeline System ("TAPS"), the primary distribution network for oil in the state of Alaska. This is a differentiating factor to all other undeveloped oil accumulations in Alaska, and offers significant financial and operational advantages, with the potential for year-round development activity, materially lower capital costs, and shorter time horizons to first production. A successful development well at Pantheon's recent Alkaid discovery, scheduled to be drilled in 2020, could be put onto production soon after completion.""""

Etc Etc

www.nextoilrush.com/88e-drill-one-biggest-oil-wells-world-2020/?utm_medium=email&utm_campaign=88E-UA18-UK&utm_content=88E-UA18-UK+CID_2bd85f29a2e0ac197a9202e5e0cff65d&utm_source=SD&utm_term=Read%20our%20full%20article

c & p if it doesn't open.

Sry if it's been posted before........

www.rigzone.com/news/alaska_well_sets_onshore_record-30-aug-2019-159691-article/?utm_campaign=DAILY_2019_09_02&utm_source=GLOBAL_ENG&utm_medium=EM_NW_F2

One of these years ........

Icewine next time...

"".....Premier also said on Thursday that it had bought into an appraisal project in Alaska’s North Slope, a region where oil drilling has previously caused environmental uproar. Mr Durrant insisted the sums involved were “small beer” at $23m and the scheme was not in a “particularly environmentally sensitive area of Alaska” such as offshore or in a nature reserve.""

From FT ... (don't like c&p)

"""Premier has an option to earn 50% working interest in Area B or C by spending US$15m, if the Charlie-1 (Malguk-1 appraisal) well in Area A is successful"""

Does that mean we can't FO or drill on B or C ??

So, only a FO on the unconventional might raise the SP in the near term ??

As to whether there are other FO's in the offing....?