Xcite issues Bentley development contracts

Xcite Energy has exchanged a letter of intent with Applied Drilling Technology International (ADTI) concerning a well for the heavy oil Bentley field in the northern UK North Sea.

Offshore staff

ABERDEEN, UK -- Xcite Energy has exchanged a letter of intent with Applied Drilling Technology International (ADTI) concerning a well for the heavy oil Bentley field in the northern UK North Sea.

Under the agreement, ADTI, the well services management division of Transocean Drilling UK, will provide a heavy-duty, deepwater-capability jackup to drill and test the planned 9/3b-R horizontal well.

ADTI also has joined the Bentley Alliance, established by Xcite to direct Bentley towards full field development.

Additionally, Xcite has contracted AMEC to advise on 9/3b-R and to provide services for the planned early production system and eventual full field development. These services will include project management, engineering, facilities design, planning and programming, supply chain management, and operational support.

02/10/2010

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