LONDON -- Granby Oil & Gas reached an agreement with Peak Well Management Ltd. to use the jackup Ensco 92 to drill Granby's Watling Rotliegendes sandstone gas prospect on UKCS block 42/28c starting this November.
Granby signed a farm-out agreement with Centrica Resources Ltd. and Gas Plus Italiana SpA making Centrica operator of the well. Targeted depth is 3,100 m TVD.
The block is located some 35 km east of Flamborough Head in a water depth of approximately 55 m.
Under the farm out arrangements, Centrica and Gas Plus will together fund the full cost of drilling an exploration well on the Watling prospect to earn 50% and 16.67% interests, respectively. Granby will retain a 22.2% interest. TGS NOPEC has also farmed out its interest on a similar basis and will retain an 11.1% interest