Providence Takes Bigger Slice of Barryroe Discovery
Providence Resources has increased its equity stake in the Barryroe oil discovery in the North Celtic Sea offshore Ireland. The company will also become operator of the discovery. Subject to government approval, Providence will now hold a 50% stake in Barryroe; San Leon Energy will hold 30%; and Lansdowne will hold 20%.
The partners started planning for a new 3D seismic survey over the eastern flank of Barryroe. This survey will be used to plan for an appraisal well designed to move Barryroe towards first oil. Discussions have also been initiated with other Irish operators on potential rig availability for a pre-development well on Barryroe in 2011.
Separately, Providence has also signed an agreement to assign a 10% non-operated interest in the Helvick oil field, located in SEL 2/07 in the North Celtic Sea Basin, to Lansdowne Oil and Gas plc.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
- Providence Expects to Drill Druid Prospect in Summer 2017 (Sep 15)
- Newgrange Prospect Could Hold 13.6 Tcf of Gas (Jul 12)
- Providence Offered LO 16/27 Offshore Ireland (Jun 23)