Westwood Global Energy reports that as of February 24 there was one exploration well and one appraisal well active in the UK, with no change since the end of December.
Westwood Global Energy
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Oil prices plunged to an 18-year low yesterday as hopes of a production pact between Saudi and Russia faded
Ghana has had a decidedly mixed couple of months, with a major offshore discovery offsetting problems at Tullow Oil and Aker Energy.
Exploration activity in the UK North Sea has picked up substantially since last year, but the success rate has “fallen off a cliff”, an analyst has said.
The number of North Sea projects approved so far this year is well below Oil and Gas Authority predictions, according to a leading analyst firm.
At the end of September there were three active exploration wells and four appraisal wells being drilled in the UK, according to Westwood Global Energy. Two E&A wells were spudded and three were completed during September.
Helicopters are at their happiest when they are being worked hard, a boss at manufacturer Sikorsky said.
There is a “looming undersupply” of top tier rigs to meet demand for drilling and exploration campaigns in the North Sea in 2019.
Westwood Global Energy reports that towards the end of November there were three E&A wells active on the UKCS, with two in the Central North Sea and one in the Southern North Sea.
The level of interest shown in the latest North Sea auction was “better than expected”, a consultant has said.
Just over a fifth of oil produced over the last decade in the UK has been replaced through exploration, a new report said.
Equinor’s takeover as Rosebank operator will give impetus to a project which has stuttered since the field was discovered in 2004, analysts said.
UK Continental Shelf
Westwood Global Energy reports that at the end of May, there were two active E&A wells on the UKCS, both west of Shetland, with one exploration and one appraisal.