Cairn Energy Hits Oil at SNE-4 Appraisal Well

Cairn Energy plc announced Thursday that it has encountered a gross oil column of 328 feet at the SNE-4 appraisal well offshore Senegal.

Part of an appraisal campaign over the SNE field discovered in 2014, SNE-4 confirmed the correlation and presence of principal reservoir units between each of the wells across the whole SNE field. Oil recovered to surface was similar 32° API oil as seen elsewhere on SNE, according to initial indications.

“We have now drilled four successful appraisal wells in Senegal and we are delighted with the results to date of the multi-well evaluation program, which has confirmed the scale and potential of this world class asset,” said Cairn Energy Chief Executive Simon Thomson.

“Operations in Senegal have been safely conducted and are ahead of schedule and substantially under budget. We have gathered a very large volume of data from operations to date and we look forward to progressing our long-term, multi-field, multi-phase exploitation plan to maximize value in Senegal. We see clear potential to access additional cost savings from the current lower operating environment in respect of planned future activity,” he added.



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