Premier Oil Spins Bit at Bluebell Prospect
Canadian Overseas Petroleum Limited announced that drilling activities have begun in the Bluebell exploration prospect that spans Blocks 15/24c and 15/25f in the UK Central North Sea.
Premier Oil plc is the operator of the block and is using the Sedco 704 (mid-water semisub) drilling vessel for the well. COPL has a farm-in agreement whereby it will pay 66.67 percent of the costs to drill one Paleocene Forties well to earn a 40 percent equity interest. The well is expected to take approximately 30 days to drill.
Operates 3 Offshore Rigs
- European Oil Producers' Weak Hedging Shows Bet on Price Rebound (Jul 31)
- Mexico Oil Privatization Pays Off With Billion-Barrel Find (Jul 12)
- Premier Oil Expects Weak Pound To Help Bottom Line (Jan 12)