Silverstone abandons Northwest Vulcan 48/25c-6 well

The Northwest Vulcan 48/25c-6 well has not encountered sufficient reserves to support stand-alone commercial development, according to Silverstone Energy.

Offshore staff

PARIS -- The Northwest Vulcan 48/25c-6 well has not encountered sufficient reserves to support stand-alone commercial development, according to Silverstone Energy.

The jackup GSF Labrador drilled the well to a total depth of 7,910 ft (2,411 m). Following wireline log, MWD, and preliminary core analysis evaluation of the Rotliegendes Leman Sandstone reservoir the company has decided to plug and abandon the well due to the limited gas in place determined on the joint acreage.

The well, located in the UKCS sector of the southern North Sea, encountered a 265-ft (81-m) gas column, the company says. The well appears to share a common gas water contact over the extent of the Vulcan Northwest structure (previously tested with wells 48/25a-4 and 48/25b-5) extending east onto block 48/25b, in which Silverstone holds a 100% interest.

The overall prospect is estimated to contain between 150 and 250 bcf of gas (25-41.7 MMboe) in place in the tight Upper Leman reservoir, the company says.

Silverstone is currently working towards the development of the Vulcan East discovery in block 49/21 southeast of Northwest Vulcan, which has 160 bcf of gas in place.

The company considers the well an appraisal of the fallow discovery on the adjoining 100%-owned land in 48/25b and is reviewing the well results including final core analysis, a detailed petrophysical review, and other commercial information before determining commerciality and finalizing the overall development strategy.

"Our partnership is disappointed that the 48/25c-6 well did not encounter sufficient reserves to support stand alone commercial development," says Matt Brister, Silverstone's CEO. "However, we are very encouraged that the new technical information gained supports a positive view as to the commerciality of our 100% owned Northwest Vulcan fallow discovery in block 48/25b adjoining to the east."

04/09/09/2009

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