HAMILTON, BERMUDA: Seapulse Limited, the global oil and gas explorer, is pleased to announce it has signed farm-in agreements for two UK Continental Shelf licences with Azinor Catalyst Limited.[the_ad id=”31605″] These wells are in the initial portfolio of 12 planned high-impact exploration wells announced by Seapulse in December 2018, testing 6 bnboe of gross prospective resources over a two-year period.
Seapulse continues to execute its innovative investment strategy adopting a low-cost, high-impact basin-master approach to exploration. Its portfolio of a large number of independent drilling targets significantly increases the chances of discovery in order to maximise value creation and diversify risk.
The two UK exploration wells targeting the Hinson and Boaz prospects are intended to be performed under the Seapulse – Maersk Drilling A/S (“Maersk Drilling”) Alliance, deploying integrated drilling execution capability with and a lean, collaborative cost structure.
Seapulse Co-founder and CEO, Scott Aitken, commented: “The Boaz and Hinson prospects are two of the three North Sea wells targeted by Seapulse in 2020, testing 0.5 Bn boe gross pMean volumes. These prospects are the product of a basin-master approach leveraging latest generation high-definition 3D seismic data. Boaz is in close proximity to Equinor’s operated Eirin gas and condensate field and Hinson is on trend with the 2019 discovery of Glengorm by CNOOC and Total, the largest discovery in the North Sea for eight years.
“We look forward to drilling these prospects in 2020 under the Seapulse – Maersk Drilling Alliance, delivering an integrated approach to contracting and standardisation, eliminating overlaps and driving down costs.”