Providence: SEL 1/11 License Extended

Providence Resources plc and Lansdowne Oil & Gas plc have been granted an extension for Standard Exploration Licence 1/11 located in the North Celtic Sea Basin, off the south coast of Ireland.

The partners have been granted a two year extension to the term of the first phase of SEL 1/11, to July 2017, as well as an extension to the term of the second phase, to July 2019, by the Minister for Communications, Energy & Natural Resources. The areal extent of SEL 1/11 has also been increased by 45 square miles to accommodate for mapped potential extensions of the Barryroe accumulation into an adjacent area that had been formerly held by Exola and Lansdowne within Licensing Option 12/4, which has now lapsed.

Commenting on the extensions, Tony O’Reilly, chief executive of Providence, commented in a company statement:

“We are very pleased to announce these extensions to the Barryroe license which provide additional security of tenure whilst also consolidating the upside resource potential that we have identified in the immediately adjacent acreage.”

Providence is the operator of, and holds an 80 percent equity stake in, SEL 1/11, which contains the Barryroe oil field, with Lansdowne Oil & Gas plc holding the remaining 20 percent.



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

WHAT DO YOU THINK?

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
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Scottish Government Reveals New Subsea... (Jan 20)
 -  SOFF Secures Services Contract for Jan... (Jan 20)
 -  NPD Grants Lundin Permit for Appraisal... (Jan 20)
 -  Lion: AMT-1 Well Abandoned After Stuck... (Jan 20)
 -  Unite: Workers 'Deeply Unhappy' About ... (Jan 20)


Most Popular Articles

From the Career Center
Jobs that may interest you
Business Development Analyst
Expertise: Business Analyst|Business Development
Location: Chesapeake, VA
 
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
 
US Houston: Sr. EDI Logistics Specialist (Electronic Data Interchange)
Expertise: Logistics Management
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours