North Sea Oil Find May Be 'One of the Largest'

EnCore Oil reported the Catcher discovery and the Catcher East sidetrack well are likely to be part of a single significant oil accumulation. The Catcher discovery could contain in-place oil of up to 300 MMbbl, and if confirmed, it would be one of the larger North Sea oil accumulations in recent years. The company recently completed the Catcher East sidetrack well (28/9-1Z) in Block 28/9. The well was drilled to a total depth of 5,931 feet (1,808 meters), finding oil-bearing sandstones with an average porosity of about 34%. Initial analysis indicates the well hit 82 feet (25 meters) of net hydrocarbon pay over a gross interval of more than 236 feet (72 meters). A core taken from the main sand body recovered 44 feet (13 meters) of oil-bearing sand. Pressure data indicates a common pressure regime between Catcher East and the Catcher discovery, and on this basis, an oil column of about 267 feet (81 meters) was proven. EnCore will now drill an additional sidetrack southwest of the discovery well, to prove the presence of additional reservoir sands not found in the original well. Appraisal drilling will commence following the completion of the current well. EnCore Oil serves as the operator of Catcher, holding a 15% interest; Premier Oil holds 50%; Nautical holds 15%; and Wintershall holds the remaining 20% interest.

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