Gas Discovery Southern North Sea 49/17-14 Lx Exploration Well
Silverstone Energy Limited today announced a promising gas discovery in their Southern North Sea 49/17–14 Lx exploration well. The Lx discovery is estimated to contain approximately 50 billion cubic feet of gas in place in a 311 foot gas column in the Rotliegendes sandstone reservoir. Associated discovered accumulations in adjacent fault blocks increase the estimated Lx B North Field gas in place number up to more than 120 billion cubic feet of gas.
Silverstone and partners, ConocoPhillips and BP, are reviewing the well results and other technical and commercial information to plan the development of the field.
Silverstone Chief Operating Officer, Steve Horton, said: “In our first year of operations, Silverstone has drilled three discovery wells in the Southern Gas Basin. Our challenge now is to work with our partners and bring these new fields effectively and efficiently onto production”.
Silverstone was formed two years ago as a joint venture between the specialist energy focused private equity fund, Lime Rock Partners, and Calgary based independent oil and gas company, Storm Ventures International Inc.
A farm-in agreement with ConocoPhillips and BP covers a selection of exploration opportunities in blocks 49/12a, 49/16, 49/17, 48/20b, 48/25b and 49/21 in the vicinity of the prolific V Fields and Viking Fields. Silverstone hold a number of other Southern and Central North Sea licenses awarded during the 22, 23 and 24 UK Seaward Licensing Rounds.
16 November 2006
Gas Discovery 49/21-10A Vulcan East Exploration Well
North Sea exploration and production company, Silverstone Energy Limited, today (16 Nov) announced a promising gas discovery in their 49/21–10A Vulcan East exploration well.
The Vulcan East well discovered an accumulation separate from the adjacent Vulcan Field. The discovery is estimated to contain between 150 and 200 billion cubic feet of gas in place in a 345 foot gas column.
The well was drilled safely, on schedule and on budget and reached total depth of 8125 feet measured depth. Following evaluation of the Permian Rotliegendes sandstone reservoir, the well was suspended for possible future re-use as a development well.
Silverstone and partners, ConocoPhillips and BP, are reviewing the well results and other technical and commercial information to determine the viability of bringing the Southern North Sea field onto production.
Silverstone and partners, ConocoPhillips and BP, are reviewing the well results and other technical and commercial information to determine the viability of bringing the Southern North Sea field onto production.
“Silverstone has a portfolio of similar prospects in the area and we will be drilling our third well later this month. The next well will be located on the Lx prospect in block 49/17.”
Silverstone was formed 18 months ago as a joint venture between the specialist energy focused private equity fund, Lime Rock Partners, and Calgary based independent oil and gas company, Storm Ventures International Inc.
A farm-in agreement with ConocoPhillips and BP covers a selection of exploration opportunities in blocks 49/12a, 49/16, 49/17, 48/20b, 48/25b and 49/21 in the vicinity of the prolific V Fields and Viking areas.
The company plans to continue to invest in exploration drilling in the next year, and has identified several other targets in the farm-in area and in its licensed acreage, with further wells expected to be drilled in 2007 and beyond.
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