Advertisement

Potential for more oil found in British waters

Hurricane Energy said it uncovered a "very significant" discovery.

By Daniel J. Graeber
Potential for more oil found in British waters
Oil company uncovers what it says may be a significant discovery, unveiling plans to conduct more extensive drilling program in the future. File Photo by Maryam Rahmanian/UPI | License Photo

SURREY, England, Sept. 9 (UPI) -- A "very significant" reservoir of oil was uncovered during a pilot program in British waters west of the Shetland Islands, a British-based company said Friday.

"A very significant hydrocarbon column of at least 2,000 feet is present" in the Lancaster field in British waters, Hurricane Energy said in a statement. Robert Trice, the company's CEO, said the pilot well confirmed a column of oil that was more extensive than the company first estimated.

Advertisement

"Our initial assessment of the well results, which are subject to refinement of the provisional data, suggest that the Lancaster field is likely to be significantly greater than the 200 million barrels," he said.

Preliminary testing yielded a natural flow rate of 6,600 barrels of oil per day, with a maximum artificial rate of 11,000 bpd.

RELATED Dakota pipeline protesters call for peace on judgment day

Many of the fields in regional waters are reaching the end of their life span. Regional company Premier Oil this year announced oil was flowing from its Solan field about 85 miles off the coast of Shetland and is on pace to reach a production rate of between 20,000 and 25,000 bpd at some point this year.

Advertisement

Premier said the Solan project was "challenging" because of rough weather conditions in the area and pressure from lower oil prices. Hurricane, for its part, said the next stage of operations would involve the drilling of a horizontal well in the Lancaster field.

Production rates using horizontal wells have the potential to be seven times greater than vertical wells. An offset, however, is higher drilling costs.

RELATED California enacts one of the more ambitious climate plans

Hurricane could unveil further progress when it releases interim results later this month.

RELATED British low-carbon target in doubt

Latest Headlines

Advertisement
Advertisement

Follow Us

Advertisement