Noreco Batting 6 for 7 with Appraisal Wells

Norwegian Energy Company ASA, Noreco, has provided an update of its ongoing drilling program, in which three wells are being finalized and another three wells are commencing.

"We are well underway with our extensive drilling program," said CEO Scott Kerr. "Six of the first seven exploration and appraisal wells have been successful. In parallel, an active infill program in the producing fields is ongoing to optimize production."
 
Drilling update
 
On the Siri field in Denmark, where Noreco holds a 50% interest, a new production well (SCA-3) has been put on production with initial gross production of approx 7000 barrels of oil per day. SCA-3 is the second production well on the Siri field drilled with the Ensco 70 rig. The rig will now move to the South Arne field to drill the South Tor Pod prospect near the South Arne field, where Noreco holds a 6.6% interest. Results from the South Tor Pod well are expected in July.
 
On the Brage field in Norway, a gas injector well (A-35 A) that will increase the oil recovery from the field has been completed. The next well from the drilling facility on the Brage platform will start in June and is targeting the exploration prospects Talisker and Knockando, with results expected in the fall. Noreco holds a 12.6 % interest in the Brage field.
 
Drilling of exploration well 1/3-11 on the Ipswich prospect located in license PL 274 in Norway is well underway. Earlier this year, a successful appraisal well with sidetrack on the Oselvar discovery in the same license was drilled. Results from the Ipswich well are expected in July. Noreco holds a 15% interest in the license.
 
Drilling on the Gita exploration well in Denmark will start in late August/beginning of September. The well will be drilled with the Ensco 101 rig once the rig has finalized and moved from the current well it is drilling in the UK. Noreco holds a 12% interest in the license.
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