Parkmead awarded gas-prone North Sea license

Parkmead has secured a new license in the UK southern North Sea covering blocks 47/10d and 48/6d.

Offshore staff

ABERDEEN, UKParkmead has secured a new license in the UK southern North Sea covering blocks 47/10d and 48/6d.

These contain the Blackadder prospect and Teviot gas discovery. According to Parkmead, the Permian Rotliegendes sandstone is the main play fairway, having delivered numerous nearby discoveries such as West Sole, Hyde, and Amethyst.

The main commitment for the company and partnerCluff Natural Resources is a drill or drop well.

Parkmead continues to progress itsPlatypus gas field development in the same basin. The partners are working on optimizing the export route for the gas ahead of an offtake agreement.

Production could begin in 2021 at rates above 50 MMcf/d, with potential upside from the Possum prospect. This will likely be drilled as part of the development.

04/01/2019

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