Egdon Resources Plc has provided an update on Jan. 6 regarding the timing of the 3D seismic survey over the Resolution gas discovery in offshore licenses P1929 and P2304.
Shell Oil U.K. Ltd., the operator of offshore licenses P1929 and P2304, has advised Egdon that the marine 3D seismic survey, planned over the Resolution and Endeavour gas discoveries is now anticipated to be acquired in February 2022 rather than first-quarter 2021. This follows the results of a revised environmental impact assessment and extensive stakeholder engagement in respect of the planned survey. This work concluded that the commercial impact on local fishing businesses, along with potential impacts on marine mammalian movements, breeding season for sea birds and tourism, meant that the optimum time window to successfully acquire seismic data in 2021 was during February, not March/April as originally anticipated.
Unfortunately, it was not possible to finalize all of the required agreements in respect of managing the fishing vessels operating in the survey area within the timeframe necessary to enable the survey to take place in February 2021.
As such, and subject to the OGA consenting to an amendment to the license obligations, it is now intended to undertake the survey in February 2022, to enable all agreements with commercial and other stakeholders to be finalized well in advance of the planned survey.
Recommended Reading
Deep Well Services, CNX Launch JV AutoSep Technologies
2024-04-25 - AutoSep Technologies, a joint venture between Deep Well Services and CNX Resources, will provide automated conventional flowback operations to the oil and gas industry.
EQT Sees Clear Path to $5B in Potential Divestments
2024-04-24 - EQT Corp. executives said that an April deal with Equinor has been a catalyst for talks with potential buyers as the company looks to shed debt for its Equitrans Midstream acquisition.
Matador Hoards Dry Powder for Potential M&A, Adds Delaware Acreage
2024-04-24 - Delaware-focused E&P Matador Resources is growing oil production, expanding midstream capacity, keeping debt low and hunting for M&A opportunities.
TotalEnergies, Vanguard Renewables Form RNG JV in US
2024-04-24 - Total Energies and Vanguard Renewable’s equally owned joint venture initially aims to advance 10 RNG projects into construction during the next 12 months.
Sitio Royalties Dives Deeper in D-J with $150MM Acquisition
2024-02-29 - Sitio Royalties is deepening its roots in the D-J Basin with a $150 million acquisition—citing regulatory certainty over future development activity in Colorado.