Ithaca Completes Drilling of Hurricane Well

by Jon Mainwaring

Rigzone Staff

Tuesday, August 14, 2012

UK-focused Ithaca Energy announced Tuesday that it has completed the drilling of the Hurricane appraisal well in the Greater Stella Area of the Central North Sea and it is now proceeding to a drill stem test (DST).

The news follows upbeat quarter results, released by the company on Monday, which showed that Ithaca boosted its profits during the first half of 2012 to $35.5 million (1H 2011: $10.1 million).

The Hurricane well (29/10b-8) was drilled to a total measured depth of 10,779 feet to appraise hydrocarbon bearing sands in the eastern lobe of the Hurricane structure closure. Logs indicate that the well has encountered hydrocarbons, which Ithaca said could be liquid-rich gas, in both the Rogaland and Andrew sands.

Pressure and fluid sampling has been undertaken across both reservoir and sand intervals, and an initial DST will be conducted over the Andrew sand interval.

Ithaca operates Block 29/10b with a 54.66-percent interest. Its partners include Dyas UK (25.34 percent) and Petrofac Energy Developments UK (20 percent).

On Monday, Ithaca stated that the overall development work program for its Stella and Harrier fields were progressing as planned, with all major operational contracts in place following the award of the contract to French oilfield services firm Technip.

Commenting on the results, oil analysts at FoxDavies Capital in London said:

"We believe Ithaca has a balanced portfolio, spread strategically across exploration, development and production phase."

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

WHAT DO YOU THINK?

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Company: Technip	more info
- Technip Scores Flare Modification Contract Offshore UAE (May 23) - Technip Wins Canada LNG Project (May 22) - Technip Scores Subsea Tieback Work for South White Rose (May 8)

Company: Petrofac	more info
- Cendor has 16 Times More Oil than Previously Thought (May 2) - Takatuf, Petrofac to Create Training Center in Oman (Apr 29) - Petrofac Consortium Wins $3.7B Abu Dhabi Deal (Apr 11)

Company: Ithaca Energy	more info
- Ithaca Farms Out Beverly License to Shell (May 13) - Storbarden Exploration Well is Dry (Apr 29) - Ithaca Makes Takeover Offer for Valiant Petroleum (Mar 1)