Operator Statoil and its partners in the Brugdan-2 exploration well offshore the Faroes have been left with little to show for their efforts after re-entering the hole, first drilled in 2006, and ending up with a confirmed dry hole.
Atlantic Petroleum, one of the partners in the well in license 006 and operated by Statoil, said the well reached a depth of 4,542 m (14,897 ft) and was “operationally challenging.” No hydrocarbons were found, according to Atlantic, with the well to be plugged and abandoned after being drilled in a water depth of 460 m (1,598 ft).
Drilling was restarted on the 6104/21-2 well originally targeting a four-way dip Tertiary closure previously drilled in 2006 with the 6104/21-1 well.
Neither well managed to penetrate the Vailsa sandstone target, Atlantic indicated.
Statoil operates the 006 license with a 35% interest, with its drilling partners being Atlantic Petroleum (1%), ExxonMobil (49%) and OMV (15%).
Genstar Capital is nearing the acquisition of RS Energy Group with plans to merge the Calgary, Alberta-based firm with portfolio company Enverus, according to a report from Bloomberg.
Robin Fielder most recently served as president, CEO and director of Western Midstream Partners and senior vice president of midstream and marketing at Anadarko Petroleum.
Chad Stephens had previously been appointed interim CEO of Panhandle Oil and Gas as part of a leadership transition tied to a shift in strategy by the company to increase its focus on the mineral acquisition market.