Lundin lowers resource estimate for Luno II discovery

Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB, has drilled appraisal well 16/4-8 S in the Luno II discovery 15 km south of Edvard Grieg oil field offshore Norway in the North Sea, proving 30 m of gross oil pay and flowing 450 b/d on a drillstem test through a 28/64-in choke.

The well was drilled 4 km southeast of discovery well 16/4-6 S to a total depth of 2,700 m below mean sea level in 100 m of water, encountering 500 m of Jurassic-Triassic sandstone (OGJ Online, Apr. 8, 2013). Pressure data indicated a barrier toward the discovery well.

Lundin says reservoir properties were lower than expected in this part of the structure. The gross contingent resource range for Luno II is now estimated at 27-71 million boe, down from the 25-120 million boe originally estimated following the discovery (OGJ Online, May 6, 2013).

The well, which was drilled using Dolphin Drilling Ltd.’s Bredford Dolphin semisubmersible drilling rig, will be permanently plugged and abandoned. The rig will move on to drill exploration well 33/12-10 S targeting the Vollgrav South prospect in PL631 operated by Lundin Norway.

Appraisal well 16/4-8 S is the third well drilled in PL359, awarded in 2006. Following the closing of recent interest transactions involving Wintershall Norge AS, OMV (Norge) AS, and Premier Oil PLC, Lundin Norway will hold 50% interest in the license (OGJ Online, July 7, 2014). OMV Norge AS will hold 20%, Statoil Petroleum ASA 15%, and Wintershall Norge AS 15%.

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