Kistos Holdings plc expects “sub-commercial” gas from a discovery in the target Royal Sovereign formation after drilling the Benriach well in the Greater Laggan area, west of Shetland.
ANALYSIS
Kistos holds a 25% non-operated working interest in licence P2411 with operator TotalEnergies (50%) and Rockrose Energy (25%).
The Transocean Barents rig mobilised from Olen, Norway and spud the well on 21 March.
The company added that a total measured depth of ~4,400 metres was reached, and an extensive data acquisition programme was conducted.
“The well encountered gas bearing sands in the target Royal Sovereign formation.
“However the discovered resource is expected to be sub-commercial.”
The operator will analyse the acquired data which includes rotary sidewall cores, full wireline coverage, live pressures and fluid samples.
COMMITTED
The company said that the exploration well was drilled ahead of schedule, with the final cost expected to be within previous guidance.
“Kistos remains committed to bringing additional gas volumes through the Shetland gas plant to add shareholder value and contribute towards domestic energy security,” added executive chairman Andrew Austin.