Elixir joint venture spuds North Sea well

DRILLING has started at Elixir Petroleum’s first North Sea exploration project, a low-cost well at the Marquis prospect located in UKCS Block 21/6b.
Elixir joint venture spuds North Sea well Elixir joint venture spuds North Sea well Elixir joint venture spuds North Sea well Elixir joint venture spuds North Sea well Elixir joint venture spuds North Sea well

Marquis has a mid-case reserves estimate of about 143 million barrels if hydrocarbons are present. Elixir estimates it has about a one-in-three chance of a commercial find.

The 21/6b-6 well was spudded on Saturday by the Bredford Dolphin semisubmersible drilling rig and is operated by farminee Century Exploration (UK) Limited.

“The well has a planned total depth of 2,000m and is prognosed to take around 18 days to drill,” Elixir said.

“The primary objective, the Palaeocene Forties-Balmoral sands, is interpreted to be reached at a depth of approximately 1,600m or around Day 12 in the drilling program. The well is being drilled as a low-cost finder well and will not be flow tested.”

Elixir, which is listed on both the Australian Stock Exchange and London's Alternative Investment Market, has a 15% interest in Block 21/6b. It is contributing 10% of the Marquis well’s estimated total cost of about £3.7 million (A$8.9 million).

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