Tests imply Lundin's Luno II discovery likely commercial

05/20/2013
A group led by Lundin Petroleum AB's Norway subsidiary has finished tests at the previously announced Luno II discovery on the southwestern flank of the Utsira high in the North Sea 15 km south of Lundin-operated Edvard Grieg field. The 16/4-6S exploratory well in 101 m of water on PL359 flowed at more than 2,000 b/d of oil on a 48⁄64-in. choke with a gas-oil ratio of 1,100 scf/bbl and is likely to be commercial, the company said. Lundin Petroleum estimates that the structure, believed to span two reservoir segments, contains a gross contingent resource of 25 million to 120 million bbl of oil equivalent as well as a gross prospective resource of 10 million to 40 million boe for the Luno I...
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