Black Rock Further Develops North Sea P1147 License
In the Southern North Sea, further activities including pre-development and economic screening studies have been approved in respect of the Monterey Field reports Black Rock Oil and Gas Plc.
Cautious progress has been made toward development during the last six months. Through extensive evaluation of the results of the 49/8c-4 well by the operator, Wintershall, and modeling of the potential application of horizontal well technology and fracture stimulation, potentially positive economics have now been obtained for the Monterey field. Wintershall has also identified a possible export route that would reduce non-well capital expenditure significantly.
The future work program includes phase two of a detailed seismic project to evaluate the distribution and quality of the Carboniferous reservoir units, pre-development studies and economic screening of the Monterey field. A mandatory 50% relinquishment of the 49/8c and 49/9d area has been completed, and the joint venture has moved into the second four-year term of the license.
Operates 3 Offshore Rigs
- Libya's NOC, Wintershall Strike Interim Deal To Resume Output (Jun 13)
- BASF Sees Role of Oil and Gas Unit Declining Further (May 12)
- Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
Company: Black Rock Oil & Gas more info
- Black Rock Oil & Gas Terminates Offer Talks with Third Parties (Dec 10)
- Black Rock Seeks Merger Opportunities (Jul 07)
- Black Rock Announced Disposal of R3 Retention Lease in Australia (Jun 16)