EnQuest Confirms Eagle Exploration Well as Oil Discovery
UK-based petroleum exploration and production company, EnQuest, has completed drilling of the Eagle exploration well in the UK North Sea and confirmed it as a discovery.
In the second quarter of 2016, EnQuest undertook the drilling of Eagle exploration well on a 100% working interest basis.
Eagle was acquired along with EnQuest’s other interests in the Greater Kittiwake Area (GKA) in 2014. EnQuest’s partner in the GKA is Dana Petroleum with 50% interest.
According to the company, after the exploration well was completed and confirmed, assessment of the results is underway and preliminary analysis indicates Fulmar oil bearing reservoir was encountered with a vertical thickness of 67ft and excellent reservoir properties.
Additionally, the company said, no oil water contact was encountered, representing potential upside volumes on the flank of the structure. EnQuest explained that the encouraging results of the initial analysis lead the company to anticipate gross total recoverable reserves to be a similar size to those in the nearby Gadwall producing oil field.
Gadwall is part of GKA and was returned to production by EnQuest in H2 2015; it is estimated that total gross ultimate recovery from Gadwall will be approximately 6 MMstb. Further evaluation of the Eagle results is ongoing, said the company.
Neil McCulloch, EnQuest’s President, North Sea said: “I am now also pleased to confirm that the initial results of the drilling of the nearby Eagle exploration well have confirmed a new discovery. Following last year’s production growth and unit operating cost reduction successes at GKA, this latest success demonstrates EnQuest’s ability to create value from maturing assets and from near field exploration opportunities.”
Furthermore, EnQuest added, drilling of the Scolty/Crathes development wells was completed ahead of schedule and under budget. The Scolty reservoir was on prognosis and the Crathes reservoir exceeded expectations, with a small reserves upgrade.
EnQuest’s Scolty/Crathes development was approved and sanctioned with a net development cost of approximately $125 million in December 2015. The fields will be tied back to the Kittiwake platform where the production fluids will be processed and then exported to shore via the Forties Pipeline System. First oil from Scolty/Crathes is expected by the first half of 2017.
