Ithaca Energy’s operated Handcross exploration well west of Shetland is being plugged and abandoned after failing to hit hydrocarbons.
The company said the 204/18b-2a well, which was targeting up to 150 MMbbl of reserves in a Palaeocene prospect in the Judd Basin, was drilled to a total depth of 3,085 m (10,120 ft) using the Stena Carron drillship. The probe was drilled in a water depth of 610 m (2,000 ft).
Ithaca’s share of the well cost was carried by partners that farmed into the licence area, which was transferred to Ithaca through the acquisition of Valiant Petroleum.
Ithaca operated the well with 25%, with its partners being Edison International, RWE Dea UK, Sussex Energy Limited – a North Sea subsidiary of Enovation Resources, and Oyster Petroleum. Oyster is backed by US $150 million from equity investment group HitecVision. Last September Oyster farmed in for 9% on UK licences P1631 and P1832 covering blocks 204/14c 204/18b and 204/19c covering the Handcross area.
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