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14:50
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Originally posted by blue horse shoe
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from Bells today.........ENERGY FAR Ltd (FAR) First exploration well in upcoming appraisal program in offshore Senegal to target Beatrix Prospect SNE field appraisal program confirmed with drillship selected and drilling expected to start in early 4Q 2015. The Operator of the offshore Senegal project, Cairn Energy, has announced that it will drill an exploration well on the Beatrix Prospect in offshore Senegal as the third well in the upcoming appraisal and exploration program. FAR has a 15% working interest, Cairn Energy has a 40% interest, ConocoPhillips has a 35% interest and the Senegal state oil company, Petrosen has 10% free carried interest in the offshore Senegal project. The world class SNE-1 oil discovery was the largest in the world in 2014 and the joint venture (JV) is now finalising arrangements for an active appraisal and exploration program as part of an accelerated development plan. The JV is planning to drill two wells to appraise the SNE field that are aimed at progressing towards proving the field is at least 200Mbbls and therefore meets the threshold economic field size for a foundation project, starting early in 4Q of 2015. A third well will be the first exploration well to be drilled in the blocks following the discoveries in the FAN-1 and SNE-1 wells and it will be drilled on the Beatrix Prospect and aimed at building the resource base within tie-back range of a hub development over the SNE field. ConocoPhillips has contracted the drillship, Ocean Rig Athena, for the three wells in the upcoming drilling program.
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