IndigoPool reports that STEP Energy is offering the opportunity to farm-in, on a promoted basis, to a producing opportunity in the UK Southern North Sea Tristan NW gas discovery, Block 49/29b. The block lies in the southeastern corner of the Southern Gas Basin, adjacent to the Thames, Wensum, Yare and Welland fields, and less than 15 kilometers west of Davy.
The Tristan NW Gas field was discovered in 1987 by 49/29b-5, encountering an 80-foot gas column in the Rotliegendes sandstone and tested at 16.7 MMscfd. The 49/29b-11 was drilled in 2007 as a horizontal well with 778 ft in the Weissliegendes section. After completing the well, the production -- tied to the Davy platform -- declined rapidly, resulting in the well being shut-in. The opportunity is to re-enter the well and sidetrack into the deeper, adjacent, better-quality Rotliegendes sands; the horizontal section will be 2000 feet.
This is a low risk opportunity with a quick turnaround, potentially generating income in a very short period of time. Gross reserve potential is 23 Bcf (2P reserves).
STEP Energy has a first class management team with one of the industry's foremost experts in drilling performance and drilling technologies, whose skills will be used specifically to keep costs under control.
To express interest in this opportunity, contact IndigoPool at IP-Opportunities@indigopool.com.
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