Wessex to Reapply for Southern England License

Onshore UK-focused Wessex Exploration reported Thursday that it plans to reapply for the most prospective parts of the area under the Promote Licence P1928 (Bournemouth Bay) under the 28th Round of Offshore Licensing, which is expected to open in February.

The firm and its partners already held the P1928 license but decided to relinquish it at the turn of the year rather than waiting for the February 1 drill-or-drop deadline. Although the group has acquired new 2D seismic data and reprocessed a large volume of existing 2D and 3D seismic data, Wessex said there was insufficient time to prove up the prospects and bring in a drilling partner.

Wessex Chairman Malcolm Butler commented in a company statement:

"Using the knowledge and database gained from activities on our existing assets to build future value for shareholders is an important part of our strategy. These Southern England license areas still have significant potential and we are investigating ways of gaining more time to evaluate them at little additional cost."


Have a news tip? Share it with Rigzone!
Email news@rigzone.com


Click on the button below to add a comment.
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

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Coordinator
Expertise: Client Representative|Process Management|Technical Writing
Location: Houston, TX
Executive Assistant
Expertise: Executive|Secretarial or Administrative
Location: United States
United States Broussard: AFO Monitoring Specialist, Sr
Expertise: Geoscientist
Location: Broussard, ME
search for more jobs

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours