Two new wells approved for Capricorn Norge

Two new wells approved for Capricorn Norge

The PSA gave consent to drill for two exploration wells in the Norwegian Sea.

The first consent relates to well 6508/1-3 located in PL758 in a prospect named Lynghaug, where Capricorn is the operator. The company holds 50% ownership interest while its partners are Lundin with 20% and Skagen 44 with 30% interest. The well is targeting a lowside trap updip of the 2011 Skaugumsåsen oil & gas discovery (6508/1-2). Chance of finding hydrocarbons is good and given success the discovery will open up for larger volume traps nearby.

The second is for well 6608/11-9 located in PL842 in a prospect named Godalen, also operated by Capricorn. Capricorn holds a 40% interest in the license with the two partners Aker BP and Skagen 44 holding 30% each. The Godalen prospect is positioned updip of the Norne-Urd oil province.

Cairn Energy 2019 drilling program. Source: Cairn

These two wells are part of Cairn Energy’s drilling campaign for UK and Norway, where four wells are programmed to be drilled in 2019: Presto (NCS, dry), Lynghaug (NCS, estimated 70 MMboe), Godalen (NCS, estimated 90MMboe), Chimera (UKCS, estimated 160 MMboe).

If successful, Lynghaug can be tied to the Norne FPSO and Chimera can be developed as a stand-alone field.