Oil & Gas Corporate News
Serica Energy (LON:SQZ) ( 85p) announced that the Ensco 100 jack-up drilling rig has been secured for an exploration well on the Oates prospect in UK Central North Sea Block 22/19c. Mobilisation of the drilling rig to the location is expected in June 2010. The rig has been contracted by the licence operator, Premier Oil (LON:PMO) plc and the expected duration of the well is 30 days. Serica holds a 50% interest in the licence and its share of the well costs is being carried by Premier Oil (LON:PMO) under the terms of a farm-in agreement. Also, Serica is preparing to drill the Conan prospect in Blocks 113/26b and 113/27c in UK East Irish Sea. As previously announced, the Company has secured the Ensco 80 jack-up drilling rig. This is expected to be mobilised from Humberside at the end of this month and to spud the well early in May. Serica holds a 65% interest in the Conan prospect and the majority of its share of the costs is being paid by Agora Oil & Gas (UK) AS under the terms of a farm-out agreement. Serica is the operator of Blocks 113/26b and 113/27c, which contain the Conan and Doyle prospects.
Leed Petroleum Plc (LON:LDP) ( 4.8p) announced that the Company has been awarded the Grand Isle block 96 lease in the Central Gulf of Mexico Minerals Management Services ("MMS") Lease Sale 213, having received all necessary MMS approvals. The Company bid US$427,699 for the block which is adjacent to the Company's Grand Isle 95 and 100 blocks. On 13 April 2010, the MMS confirmed acceptance of Leed's bid. Leed will own a 100% working interest and a 79.75 % net revenue interest in the block. The lease will be held for an initial five year "primary" term during which the Company has the right to explore and produce hydrocarbons and for as long thereafter as production in commercial quantities is extracted from the lease. The Grand Isle field is located approximately 100 miles south of New Orleans, Louisiana in 200 feet of water.
Faroe Petroleum Plc (LON:FPM) ( 137.5p) announced a gas and condensate discovery on the Fogelberg prospect (Faroe 15%), located in PL433 in the Norwegian Sea. Following a period of coring and extensive data acquisition, the well reached a vertical depth of 4,736 metres…
