Finance & Investing
News Services
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy


Cairn Gets Approval for Spanish Point Farm-In

change text size

Independent explorer Cairn Energy reported Tuesday that the Irish government has approved Cairn's farm-in as operator with a 38-percent working interest in two exploration licenses in the Porcupine Basin off the west coast of Ireland.

The two licenses are FEL 2/04, which includes the Spanish Point discovery, and FEL 4/08. Cairn said that its farm-in to Licensing Option 11/2, covering more than 1,000 square miles, was also approved.

The farm-in was first announced in early May, when Cairn struck a deal with Irish explorers Chrysaor and Sosina Exploration. The deal sees Chrysaor retain a 26-percent interest in the licenses with Sosina hanging on to four percent. Providence Resources sees its stake in the licenses remain at 32 percent.

Cairn also announced Tuesday that it has arranged a deal to secure a drilling rig for the Spanish Point appraisal well. Cairn and its partners plan to use the Blackford Dolphin (DW semisub) rig – an enhanced H3 deep-water semi-submersible drilling rig. The rig is expected to be mobilized for the Spanish Point drill during the second quarter of 2014.

The news is further evidence that offshore activity is about to accelerate off the west coast of Ireland, after Providence Resources' success with its Barryroe discovery off the south coast in early 2012.

Earlier in July, Chrysaor reported that it had raised $175 million to finance a "high impact portfolio" of exploration assets off the west coast of Ireland, including the Spanish Point appraisal campaign.

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


Post a Comment 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
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

More from this Author
Jon Mainwaring
European Editor | Rigzone
 -  Repsol Defies Oil, Gas Sector Gloom wi... (Feb 26)
 -  UK Oil & Gas Authority Issues 'Call to... (Feb 25)
 -  Latest Activity Survey 'Paints Bleak P... (Feb 24)
 -  GE Oil & Gas Adjusts Recruitment Strat... (Feb 20)
 -  European Services Firms Technip, Dolph... (Feb 18)
Most Popular Articles
From the Career Center
Jobs that may interest you
NDT Business Development
Expertise: Business Development
Location: 2950 North Loop West, Ste 1100 Houston Tx 77092, TX
Senior Subsea Engineer
Expertise: Subsea Engineer
Location: Gulf of Mexico
Production - Supervisor/Foreman
Expertise: Drilling Superintendent|Production Engineering|Workover or Completion
Location: Houston, TX
search for more jobs