Hot off its Southern North Sea success with Shell, Deltic Energy (AIM: DELT) said it is progressing plans for a farm out deal on its “drill-ready” Syros prospect by the end of this year.
Deltic Energy (AIM: DELT) is mulling a farm-down of its stake in a pair of Shell-operated (LON: SHEL) North Sea targets and have received “a considerable level of interest”.
As far as discoveries go, uncovering over 300 billion cubic feet (bcf) of gas and the decade’s largest find isn’t half bad in an increasingly wizened basin.
By Stephen Coomber, senior analyst, Westwood Global Energy Group
As of 24 February, Westwood Global Energy reports that there are two exploration wells, with one each in the NNS and SNS, and one appraisal well active in the CNS. Since the previous report, one exploration well has completed at Orlov.
Hot on the heels of the largest discovery in a decade for the Southern sector, Deltic Energy (LON: DELT) is seeking partners of its next North Sea prospect.
By Stephen Coomber, senior analyst, Westwood Global Energy Group
As of 27 January, Westwood Global Energy reports that there are three exploration wells active, with one in the NNS, one in the CNS and one in the SNS. Since the previous report, one well has completed at North Eigg and one appraisal well completed at Isabella.
A gas find from Shell (LON: SHEL) and Deltic Energy (LON: DELT) could prove very positive for other players with exploration targets in the Southern North Sea.
Reabold Resources has confirmed the completion of its acquisition of Simwell Resources, a privately held explorer with several southern North Sea licences.
A key exploration well from Shell (LON: SHEL) and Deltic (LON: DELT), which could open up a dozen other licences in the Southern North Sea, is “imminent”.
Shareholders in Reabold Resources have put their faith in the North Sea firm’s board to deliver on their promises, snubbing an attempt to replace them.