By the OGJ Online Staff
HOUSTON, June 6 -- PanCanadian Petroleum Ltd., Calgary, Wednesday said the Buzzard prospect discovered oil in the UK North Sea, 100 km northeast of Aberdeen, and appraisal drilling is expected later this year.
The well was drilled in 320 ft of water and encountered an oil column of 360 ft. During testing, the well flowed 6,547 b/d of light oil. The plan is to sidetrack the well to provide a better understanding of the extent of the accumulation.
The discovery lies in License P986, which PanCanadian operates with 45.01% interest. Partners are Intrepid Energy North Sea Ltd., 30%, BG Group, 19.99%, and Edinburgh Oil & Gas PLC, 5%. BG Group drilled and tested the well on behalf of the partnership.
PanCanadian has interests in seven exploration blocks in the vicinity of Buzzard with equity interest ranging from 20-80%. It expects five exploration wells in the UK North Sea next year. The company also has operations in Western Canada and the US along with prospects in Australia, Brazil, and Libya.
