Neptune Energy confirms discovery at Isabella exploration well

17/03/2020

Neptune Energy today announced that an encouraging hydrocarbon discovery has been made at the Isabella exploration well in the UK Central North Sea.

Hydrocarbons were encountered in Upper Jurassic and Triassic sandstone reservoirs, with 64 metres net pay encountered, consisting of lean gas and condensate and high-quality light oil.

The results of the well will be analysed to further evaluate the discovery, determine future appraisal activity and recoverable resources estimates. The well is now being plugged and abandoned.

Jim House, CEO of Neptune Energy, said: “The discovery of hydrocarbons in three separate formations is positive news for Neptune and our partners. While analysis of the results is ongoing, the initial findings show significant promise.

“Having acquired our interest in the exciting HPHT Isabella prospect in 2018, the result further strengthens our growing UK portfolio and demonstrates the significant remaining hydrocarbon potential in the region.”

The 30/12d-11 well in UK licence P.1820, was drilled by the Noble Sam Hartley jack-up to a total depth of 5,557 meters in water depths of 80 meters.

Partners in Licence P.1820: Neptune E&P UK Limited (50%), Total E&P North Sea UK Limited (operator and 30%), Ithaca Energy (UK) Limited (10%), Euroil Exploration Limited (10%).

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Media contact:

Gavin Roberts
+44(0) 1224 281200

gavin.roberts@neptuneenergy.com

 

About Neptune Energy Group

Neptune Energy is an independent global E&P company with operations across the North Sea, North Africa and Asia Pacific. The business had production of 162,000 net barrels of oil equivalent per day in 2018 and 2P reserves at 31st December 2018 of 638 million barrels of oil equivalent. The Company, founded by Sam Laidlaw, is backed by CIC and funds advised by Carlyle Group and CVC Capital Partners.

More information: www.neptuneenergy.com