Deltic Energy and Shell on-track to spud Pensacola well in Q2 2022

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Deltic Energy PLC (AIM:DELT) told investors Shell completed its site survey programme for the Pensacola exploration project in the North Sea. The well remains scheduled to be spudded in Q2 2022


Shell additionally confirmed a rig is available for the Pensacola well programme, Deltic added.


“The successful completion of the site survey programme, which is a key part of well planning and the final phase of preparatory offshore activities, represents the achievement of another important milestone in our steady progress towards drilling the Pensacola prospect,” said chief executive Graham Swindells.


The well site survey was conducted by Fugro GB North Marine Limited. It was completed on time and on budget, without incident.


All site survey operations are now complete, Deltic added.


Deltic’s estimates for Pensacola put the prospect’s gross P50 prospective resources at around 309bn cubic feet of gas.


If proven, that would make Pensacola one of the highest impact gas exploration targets in recent years.

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