DUBLIN, Ireland – Providence Resources has issued technical updates on its exploration programs for two licenses offshore Ireland.
The company is making preparations to drill the 48/24-K well and side track in standard exploration license 1/11 in the North Celtic Sea basin, around 5 km (3.1 mi) southeast and up-dip from the 48/24-10z well on the east flank of the Barryroe field.
Subject to consents, drilling could start either during 2H 2018 or 1H 2019, with an estimated to cost of around $25 million.
Providence’s 48/24-10z well, drilled in 2011/12, tested 4,000 boe/d of light (43° API) sweet crude from the basal Wealden A Sand reservoir interval.
With the two new well penetrations, the company aims to achieve improved definition around structure, reservoir, fluid phase, connectivity and resource estimates, helping to move the Barryroe East Flank project toward development.
Targeted resources are 463 MMbbl in place, with an estimated 162 MMbbl recoverable.
Frontier exploration license 6/14, between the southern Porcupine and Goban Spur basins off western Ireland, is the location for the planned 62/07-A Newgrange exploration well.
Site survey planning has started with offshore surveying expected to get under way next summer, again subject to consents. Providence hopes to spud the well in 2019 or 2020.