Antrim, an international oil and gas exploration and production company headquartered in Calgary, Canada, announced preliminary results of drilling operations from well 211/21-N94 (the “Contender Well”) in UK Northern North Sea Block 211/22a Contender Area (the “Contender Block”, Antrim interest 8.4%).
The Contender Well has been drilled to a total drilling depth of 16,903 feet (11,550 feet true vertical depth) by Operator TAQA Bratani Limited (“TAQA”) from the TAQA-operated North Cormorant production platform. Preliminary estimates indicate a net oil pay in excess of 60 feet was encountered in the Tarbert member of the Jurassic Brent sandstones, with greater than expected porosity and hydrocarbon saturation. The total Brent oil column exceeded 112 feet, with no water bearing sands identified. Further reservoir evaluation is being undertaken. Should the discovery be commercial, the field will be developed under the name ‘Cormorant East’ and production will be processed through the North Cormorant platform.
Under the terms of a farmout agreement (as previously announced on August 25 2011), Antrim retained an 8.4% interest in the Contender Block. Other interests are TAQA 60%, Dana Petroleum (E&P) Limited 20%, First Oil Expro Limited 7.6% and Bridge Energy Enterprises Limited 4%. With the successful drilling of the Contender Well, TAQA also earned a 35% interest in the adjacent Block 211/22a Kerloch Area, with Antrim retaining a 13.65% interest.
Operations to achieve first oil from the Causeway Field (UKNS Block 211/23d, Antrim 35.5% WI) have experienced minor delays due to adverse weather conditions in the North Sea. All subsea work is now complete and topsides commissioning at the North Cormorant platform is underway, with first oil anticipated in early November 2012.
The Cyclone exploration well, operated by Premier Oil UK Limited in Block 21/7b (Antrim 30%), is expected to spud in November 2012. The well will target the Tertiary Cromarty sandstone at approximately 5,000 feet true vertical depth.
Press Release, October 22, 2012