Realm Energy International Corp., Vancouver, BC, soon to merge with San Leon Energy PLC, said it was awarded two shale permits in the Cantabrian basin in northern Spain and was notified it is the successful applicant on six other permits in other Spanish basins.
Realm Energy said it has been evaluating shale plays in Spanish sedimentary basins for 2 years in collaboration with Halliburton Consulting and had applied for 10 permits totaling 2.2 million acres in five basins. The Cantabrian permits total 212,099 acres and are awarded for 6 years.
The hydrocarbons department said formal award of the other six permits totaling 1.5 million acres is pending. The outcome of two permits is yet to be determined.
Minimum work programs on the awarded and pending permits require seismic and vertical wells. The permits all have excellent pipeline connections. Well log analysis indicates that primary targets are likely to be Eocene, Cretaceous, and Carboniferous shales prospective for gas at 6,000-11,000 ft.
