Azinor Catalyst Ltd., the Seacrest Capital Group-backed E&P company focused on the U.K. Continental Shelf, has committed to the Oil and Gas Authority on May 3 to the drilling of two wells in 2020.

These two firm wells form part of a three well 2020 campaign.

Catalyst have signed a letter of intent with Maersk Drilling A/S to deliver the full campaign under the scope of the master alliance agreement between Seapulse and Maersk Drilling.  Preparations for drilling of these wells are under way. A fully integrated agreement for Maersk Drilling to provide end-to-end drilling services for all three operations is expected to be finalized in due course.

Catalyst has signed farm-out agreements with Seapulse Ltd., for the drilling of the Boaz and Hinson wells. The Goose well farm-out negotiations are progressing and an announcement is expected in due course.

The three prospects; Boaz, Hinson and Goose have been defined and de-risked utilizing new-generation broadband seismic data and leading-edge quantitative geoscience techniques. The three independent prospects are estimated to contain combined gross unrisked Pmean prospective resources of 495 million barrels of oil equivalent.

“We are delighted to commit to drilling these high-value North Sea exploration opportunities. What is particularly pleasing, is that not only will we benefit from bringing Seapulse into the partnership, but we will be partnering with Maersk Drilling under the Seapulse – Maersk Drilling Alliance, which will bring additional operational efficiencies during our back-to-back three-well drilling campaign,” Nick Terrell, managing director of Azinor Catalyst, said.

Offshore