Centrica has spud the Butch prospect in Licenses PL 405 and 405BS in the Norwegian sector of the North Sea.
The prospect is a stratigraphic pinch-out trap resting on the side of a salt dome, with the primary objective situated in the upper Jurassic Ula Formation. This formation is the producing reservoir in the Ula, Tambar and Gyda fields. The Maersk Guardian is performing the drilling operations, which are scheduled for completion in 4Q11.
The prospect lies about 4 miles (7 kilometers) east of the Ula field,6 miles (10 kilometers) northeast of the Tambar field and some 12 miles (20 kilometers) north of the Gyda field. Serving as operator of the license is Centrica with a 40% interest; Faroe Petroleum holds 15%; Spring Energy holds 15%; and Petro-Canada holds 30%.
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