France’s Total said on March 17 it had made a new gas and condensate discovery located in the central North Sea offshore the U.K., about 170 km east of Aberdeen.
Total, which holds a 30% working interest and is operator of the field, said the well was drilled in water about 80 m deep.
The company said analysis of the data and results are ongoing to assess to whether the find is commercially viable.
Other partners in the field include Neptune Energy, which has a 50% interest, Ithaca Energy with 10% and Euroil Exploration, a wholly owned subsidiary of Edison, 10%.
Whiting Petroleum had explored a wide variety of alternatives to address its balance sheet and looming note maturities in a “highly capital-constrained market environment,” CEO Bradley J. Holly says.
Percussion Petroleum II will pursue the same acquisition and development strategy as its predecessor, which sold its position in the Permian Basin’s Northwest Shelf to Spur Energy Partners in mid-2019.
WPX plans to implement a dividend in conjunction with the Felix acquisition, targeting about $0.10 per share on an annualized basis at initiation.