I3 ENERGY SPUDS SERENITY APPRAISAL WELL

October 07, 2019

i3 Energy, an independent oil and gas company with assets and operations in the UK, announced that the Borgland Dolphin semi-submersible drilling rig has arrived on location at the Serenity field and that the SA-01 appraisal well has now been spud. The Company will provide SA-01 drilling results to the market when the well has reached total depth and acquired data has been evaluated. The SA-01 well is intended to confirm that the Serenity structure, which the Company has previously announced is estimated to have a P50 resource of 197 MMbbls of STOIIP, is hydrocarbon bearing and that it is a material extension of the Tain discovery which is situated in the adjoining Block 13/23b. Upon completion, the Serenity well will be plugged and abandoned as planned.
Majid Shafiq, CEO of i3 Energy commented:
“We are excited to be drilling this potentially high-impact well at Serenity which could add materially to i3’s reserves and resources and may become a fast-tracked development alongside the neighboring Tain oil field. The Borgland Dolphin continues to perform very well with operations running smoothly to date and we look forward to updating the market as our well objectives are achieved.”
Serenity is the second of a three-well drilling campaign for i3, which last month drilled a pilot well at the Liberator field situated roughly 120km off the shore of Aberdeen in the UK North Sea.
(Source: I3 Energy)