Rex IH Gives Norway Drilling, License Updates
following is a status update on the portfolio of Lime Norway, in which the company indirectly holds a 65 percent stake: Firm Wells Lime Norway has secured three wells for drilling in 2015 thus far. Lime Norway is targeting to spud in Q2 2015, licenses PL 591 and PL 591B which are operated by Tullow Oil Norge AS; in Q3 2015, license PL 708 operated by Lundin Norway AS and in Q4 2015, license PL 616 operated by Edison International Norway Branch. Drill or Drop decisions Decisions to drill wells or relinquish licenses will be taken for licenses PL 498/ PL 498B and PL 503/ PL 503B / PL 503C in Q4
North Energy’s New Farm-in Well is Spudded
Rex International Holding Limited shared that North Energy ASA, in which the group holds an approximate stake of 5.35 percent, had entered into an agreement with Tullow Oil Norge to acquire a 10 percent stake in PL 507 on 26 June 2014. The agreement is conditional on government approval, and upon completion, the effective date of the acquisition has been set as January 1, 2014. Exploration drilling had begun on July 1, 2014 on the Lupus oil prospect in PL 507 in the North Sea. Located about 35 kilometers south of the Oseberg field, well 31/10-1 is being drilled by the Borgland Dolphin in about 120
Spike Increases Barents Sea Presence
Spike Exploration Holding AS (Spike) has recently signed an agreement with Tullow Oil Norge AS to swap a 15% interest in licence PL494/B/C for a 15% interest in PL722. PL722 is located in the Hoop area in the Barents Sea. The prospectivity of the PL722 acreage is very attractive, especially after the nearby Wisting oil discovery was made. Following data gathering in the license, there is ongoing work to mature and rank prospects. The latest date to decide to drill an exploration well is June 21, 2016. PL494/B/C is located in the southern part of the North Sea and contains the Heimdalshøe
February 2024
