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E & P News

2017

Jul 2017: Providence (operator, 56%) provided an update on Frontier Exploration Licence (FEL) 2/14 in the southern Porcupine Basin.  The Stena 'IceMAX' deepwater drillship has commenced drilling the 53/6-A well to evaluate stacked Paleocene Druid and Lower Cretaceous Drombeg prospects. Partners are Capricorn (subsidiary of Cairn, 30%) and Sosina (14%).

2016

Jun 2016: The Minister of State for Natural Resources announced the offer of 14 new Licensing Options following the conclusion of the 2015 Atlantic Margin Licensing Round. These awards are the second phase of awards following on from the first phase of 14 in February. A total of 43 applications were received by in 2015. The offers involve 11 companies.

May 2016: The Corrib field continues to produce strongly with minimal downtime. Five of the six wells are capable of production with the remaining well to be brought online soon, concluding the offshore work program.

Feb 2016: Fourteen new Licensing Options have been awarded following conclusion of the first phase of awards in the 2015 Atlantic Margin Licensing Round in the southern Porcupine Basin. Seven companies will operate; Eni, Europa, ExxonMobil, Nexen, Scotia, Statoil and Woodside along with BP who will partner Eni. The final phase of awards is planned for May.

Feb 2016: Providence has issued an update on 3 undeveloped fields in the North Celtic Sea basin. Farm-in discussions are continuing for the Barryroe oil field  and an appraisal well is being considered. Development studies are proceeding for the Helvick oil discovery and a 2-year lease undertaking for the Dunmore oil discovery is allowing for evaluation of development options.

2015

Dec 2015: Shell (operator, 45%) announced the Corrib gas field, in nearly 350m of water, has come onstream. It is expected to produce around 2. 7 bcm of gas a year at peak from 6 wells with gas transported to the Bellanaboy Bridge Gas Terminal in county Mayo. Partners are Statoil (36.5%) and Vermilion (18.5%).

2014

Sep 2015: The 2015 Atlantic Margin Licensing Round drew a record 43 applications. All the main Atlantic basins, Porcupine, Goban Spur, Slyne, Erris, Donegal, and Rockall, were included. The government plans to award 2-year licensing options with terms not including drilling.

Jun 2014: The Minister for Natural Resources announced the details of the 2015 Atlantic Margin Licensing Round which will close in Sept 2015. It will be a 2-year Licensing Option including all major Atlantic basins; Porcupine, Goban Spur, Slyne, Erris, Donegal and Rockall. Exploration drilling will not take place under the Options. The previous Atlantic Margin Licensing Round was in 2011.

May 2014: Tunnel boring operations have been completed at the Corrib project, which will serve as a conduit for the onshore gas pipeline. First gas is expected in mid-2015 with peak production estimated at 3.2 bcm a year. The Corrib gas field was discovered in 1996 by Enterprise Oil and is estimated to contain 28 bcm of gas. Partners are Shell (operator, 45%), Statoil (36.5%) and Vermilion (18.5%).

2013

May 2013: Cairn Energy has farmed-in to two licences, FEL 2/04 and FEL 4/08, in the Porcupine Basin. The former contains the Spanish Point and Burren discoveries. The licences are currently operated by Chrysaor (60%) with Providence (32%) and SOSINA Exploration (8%). Cairn will acquire 38% and Operatorship. Drilling of the first appraisal well on Spanish Point is targeted for mid 2014.

Apr 2013: Providence Resources has provided an update on Barryroe oil field in SEL 1/11 in 100m water depth, 50 kms off the south coast in the North Celtic Sea Basin. The total recoverable resources are now estimated at 311 mm bbls of oil and 5.9 bcm of gas. Barryroe has had 6 wells drilled on the structure, 4 in the 1970's by Esso, an appraisal in 1990 by Marathon, and the latest by Providence in 2011. Providence holds 80% and operates with Lansdowne Oil and Gas(20%).

Apr 2013: ExxonMobil is drilling two deep water wells at a cost of US$160m off the west coast at the Dunquin licence area in the Porcupine Basin, 200 kms offshore. ExxonMobil controls 27.5%, with Eni (27.5%), Repsol (25% ), Providence (16%) and Sosina (4%). The semi-submersible rig, Erik Raude, will drill the wells, operating out of Cork.

2012

Oct 2012: Providence Resources announced it will use a recovery factor of 31% for development planning of its Barryroe oil field in the Celtic Sea. The development involves 41 horizontal production and 22 horizontal water injection wells over a 25 year life. In July, Providence estimated 280 mm bbls of recoverable oil. Production potential may be 100,000 bbls per day.

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