UK North Sea Lacewing gas find under evaluation

A group led by ConocoPhillips will conduct postwell evaluations to ascertain whether its Lacewing gas discovery on Block 23/22b in the UK Central North Sea can be rendered commercial.

A group led by ConocoPhillips will conduct postwell evaluations to ascertain whether its Lacewing gas discovery on Block 23/22b in the UK Central North Sea can be rendered commercial.

The 23/22b-6Z exploratory well, which targeted the Lacewing prospect on the eastern margins of the UK Central North Sea, reached a total depth of 14,370 ft measured depth and encountered a gas column thicker than 100 ft.

The well achieved its predrill objectives by evaluating the Triassic interval which contained reservoir quality sands. The well is being plugged and abandoned as a hydrocarbon discovery.

ConocoPhillips is operator with 47.3% interest, BG Group 32.5%, and Premier Oil PLC has 20.2%.

Premier said it recognized the high-risk nature of the prospect and managed its capital exposure to this opportunity by farming down prior to drilling in return for a partial carry on the well.

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