Deltic Energy plc has been granted more time to find a farm-in partner for the southern North Sea licence P2252 containing the Pensacola gas discovery.
Uncertain: discussions must be concluded within the timeframe (stock photo)
APPRAISAL
The company had until the end of May to find £15 million for its share of the costs or withdraw from its 30% licence interest.
Deltic today said that operator Shell UK Ltd had given it until 12 June to progress discussions with potential partners.
“There is however no guarantee that discussions will be concluded successfully within that timeframe and, in such circumstances, Deltic will be required to withdraw from the Pensacola licence and transfer its interest in Pensacola to its joint venture partners,” it added.
Shell is due to drill an appraisal well on the licence later this year.
Deltic Energy plc and partner Shell UK Ltd have completed the final phase of the site survey over the planned location for the Pensacola gas exploration well in the southern North Sea. Schedule: a rig is available to drill during the second quarter of 2022 (Pixabay) DRILL The survey on…
Deltic Energy plc and partner Shell UK Ltd have awarded the contract for geophysical and geotechnical site survey works over the Pensacola prospect in the UK southern North Sea. Portfolio: across 13 licences containing multiple identified prospects (Pixabay) RESOURCE Fugro GB North Marine Ltd will begin the work on licence…
Deltic Energy plc and its partner have completed the geophysical site survey over the planned Pensacola gas exploration well site in the southern North Sea. Milestone: the companies are in the planning phase ahead of drilling (Pixabay) PROGRESS Fugro GB North Marine Ltd, for Deltic and operator Shell UK Ltd,…
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