Lansdowne Fails to Farm-Out Celtic Sea Licenses

Offshore Ireland focused energy company Lansdowne Oil & Gas revealed Tuesday that it has failed to farm-out the SEL 5/07 and SEL 5/08 licenses in the Celtic Sea offshore the south coast of Ireland, “due to adverse industry conditions”.

“Due to adverse industry conditions, attempts to farm-out SEL 5/07, containing the Rosscarbery and SE Rosscarbery gas prospects, and SEL 5/08, containing the Amergin prospect, have been unsuccessful,” said a Lansdowne spokesperson in a company statement.

“As Lansdowne has not been able to demonstrate that drilling will be achieved in 2016 these licenses have lapsed with effect from December 31, 2015,” the spokesperson added.

The Rosscarbery and SE Rosscarbery prospects hold combined P50 prospective resources of 324 billion cubic feet of gas initially in place, and the Amergin prospect has potential for 739 million barrels of of stock tank oil initially in place, according to Lansdowne. 



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
 -  SapuraKencana: Short-Term Industry Out... (Dec 8)
 -  Oil Flows From Otakikpo Marginal Field... (Dec 8)
 -  Plexus: More Cuts Expected (Dec 8)
 -  Doosan Babcock to Cut Almost 500 UK Jo... (Dec 7)
 -  Israel Approves Energean Purchase of K... (Dec 7)


Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager
Expertise: Project Management
Location: Houston, TX
 
GIS Intern Job
Expertise: Cartography / Mapping|Landman|Modeling
Location: Eau Claire, WI
 
Chemicals, Sales Account Manager, Oil & Gas - Midland - Odessa TX
Expertise: Business Development|Marketing|Sales
Location: Midland, TX
 
search for more jobs

Brent Crude Oil : $53/BBL 1.72%
Light Crude Oil : $49.77/BBL 2.27%
Natural Gas : $3.6/MMBtu 1.09%
Updated in last 24 hours