Clyde Petroleum Makes Another Discovery in the Netherlands

Clyde Petroleum Exploratie B.V., a wholly owned subsidiary of Conoco Inc., has made a significant new natural gas discovery that extends over two blocks in the Dutch sector of the North Sea. The Q4-10 discovery represents the seventh commercial discovery that the company has drilled offshore the Netherlands within the last three years.

"This discovery continues a successful period of exploration activity for Clyde but, more importantly, it is easily the biggest discovery made by the company in the past 10 years," Ian Abbotts, Clyde's exploration manager.

Exploratory well Q4-10, drilled using the Noble Lynda Bossler jack-up drilling rig, flowed at an unstimulated rate of 43 million standard cubic feet of gas per day gross (mmscf/d), 19.55 mmscf/d net, from a lower 56 meter perforated interval, and separately at an unstimulated rate of 39 mmscf/d gross, 17.7 mmscf/d net, from an upper 40 meter perforated interval. Both tests were carried out over limited perforation intervals within longer reservoir sections.

The Q4-10 discovery is located approximately 6 miles from the Clyde-operated pipeline and production facilities. The discovery is commercial; however, it will need appraisal to determine the full extent and optimum development scheme and the company is reviewing various development options. The discovery extends from block Q4 into block Q1 and will be named Q1-A. Exploratory well Q4-10 was drilled jointly by the Q1 (Deep) and Q4 partners. Clyde Petroleum, as operator, holds a 45.46 percent interest, in partnership with Energie Beheer Nederland B.V. (40 percent), DSM Energie B.V. (10.32 percent), Dyas Nederland B.V. (1.45 percent) and CLAM Petroleum B.V. (2.77 percent).


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