North Sea's Magnolia Prospect Comes Up Dry
The Magnolia exploration well was drilled to its target depth of approximately 4,920 feet true vertical depth subsea, fulfilling the partners' license obligations.
The well hit its primary targets – the Captain, Corable and Punt sandstones within the Lower Cretaceous interval – but no significant hydrocarbons were encountered, according to Trapoil. The well will now be plugged and abandoned.
The operator of license P1610 is Dana Petroleum, which has a 45-percent interest. Partners in the license include: Summit Petroleum (25 percent), Atlantic Petroleum UK (20 percent) and Trapoil (10 percent). The P1610 license is located to the south and southeast of the producing Captain Field in the Moray Firth and is also close to the Blake and Ross fields.
In February, Trapoil reported that it was buying one third of the Trent East Terrace Area license, located in the southern North Sea, from Perenco UK.
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