Irish explorer Providence Resources reported Tuesday an increase to the Barryroe license area, where the company has already discovered estimated resources of at least 1.1 billion barrels of oil in place.
The firm said that Standard Exploration Licence 1/11 has been granted an approximate 70-square mile extension by the Irish Minister of State at the Department of Communications, Energy & Natural Resources for the first phase of the exploration license. The increase in area recognizes potential field extensions of Barryroe to the south and southeast.
Providence Technology Director John O'Sullivan commented in a company statement:
"The granting of an increase in the areal extent of SEL 1/11 recognizes the potential significant volumetric upside that exists at Barryroe. The structural closure as mapped now appears to extend further to the south and southeast, however no wells have been drilled as yet to confirm any such extensions to the field area."
Providence is the operator of the license, with an 80-percent stake. Lansdowne Oil & Gas holds 20 percent.
Have a news tip? Share it with Rigzone!
WHAT DO YOU THINK?
Click on the button below to add 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.
More from this Author
Most Popular Articles
From the Career Center
Jobs that may interest you