Barryroe well spud slated for September

Providence Resources has completed a 3D seismic acquisition program over the Barryroe oil discovery offshore southern Ireland.

Offshore staff

DUBLIN, Ireland – Providence Resources has completed a 3D seismic acquisition program over the Barryroe oil discovery offshore southern Ireland.

The survey is part of the pre-development program on the Barryroe, where the semisub GSF ARCTIC III is due to drill a well in September.

The Barryroe license is directly below the Seven Heads gas field. The Barryroe structure has previously tested at flow rates of between 1,300 and 1,600 b/d of oil from three exploration and appraisal wells.

Reservoir sands are of Cretaceous and Middle and Lower Wealden age at depths between 4,500 and 7,550 ft (1,371-2,301 m) TVDSS. The oil is light (30-42º API), but contains a wax content ranging from 12-22%, which may require treatment at surface.

A third-party audit performed by consultants RPS Energy for Providence’s partner Lansdowne indicated P50 and P10 STOIIP estimates for Barryroe of 373 MMbbl and 893 MMbbl. The corresponding 2C and 3C technically recoverable contingent resources are 59 MMbbl and 144 MMbbl.

In February, Providence entered into a MOA with Shell Trading and Marketing to agree an oil off-take arrangement for future oil production from Barryroe and the Hook Head field in the same area of the Celtic Sea.

07/05/2011

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