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

WHAT DO YOU THINK?

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
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Alam Maritim Clinches Repair, Maintena... (Jul 29)
 -  Husky Says Indonesia's Madura Strait P... (Jul 29)
 -  Senex Energy Appoints New Chief Financ... (Jul 29)
 -  UK Oil, Gas Industry Companies More Op... (Jul 29)
 -  Lekoil: First Oil from Otakikpo Delaye... (Jul 29)


Most Popular Articles

From the Career Center
Jobs that may interest you
Business Development Specialist - NDT / NDE
Expertise: Business Development|Pipe Inspection / NDT|Technical Sales
Location: Lake Charles , LA
 
LNG Offshore Operations Manager
Expertise: Business Development|Captain / Master|Operations Management
Location: Texas, TX
 
Account Manager - Vendor Surveillance Sales
Expertise: Business Development|Sales & Marketing|Technical Sales
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $53.3/BBL 0.31%
Light Crude Oil : $47.98/BBL 1.24%
Natural Gas : $2.82/MMBtu 1.07%
Updated in last 24 hours