HOUSTON, Apr. 17 --Talisman Energy (UK) Ltd., a subsidiary of Talisman Energy Inc., Calgary, Tuesday reported an oil discovery in the UK central North Sea adjacent to the Talisman-operated Piper field.
The Lucy prospect, 8 km northeast of the Piper Bravo platform, was drilled from the Ocean Princess semisubmersible rig. Preliminary estimates of reserves in the Lucy field are 20-50 million bbl.
Jim Buckee, Talisman president and CEO, said, "Although the size is still uncertain, the Lucy exploration well is clearly a commercial discovery." Talisman plans to drill nine exploration and 46 development wells in the North Sea this year.
The well discovered a 68-ft column of light oil in Jurassic Piper sand. Development plans are expected to be finalized later this year with first production potentially in 2002. Talisman said it was unnecessary to test the well because of the excellent reservoir quality and an extensive sampling program.
It is anticipated that the discovery will be developed using one or two horizontal wells.
Talisman holds 76.7% interest in the 15/12b block, which contains the discovery well, and 60.4% in the adjacent 15/17 block into which the discovery extends. Lasmo PLC, London, holds 20% in each block. Intrepid Energy North Sea Ltd. holds 3.3% in 15/12b and 19.6% in 15/17 block.
