Harbour Energy PLC (LSE:HBR) shares opened higher in Wednesday’s early deals after it announced a new oil discovery in the waters off the Mexican coast.
London’s largest independent producer, in a statement, said that the Kan-1 exploration well in the ‘Block 30’ lease had encountered more than 170 metres of net pay.
The well is located in shallow water, around 50 metres deep, and was drilled down to a depth of 3,317 metres. A sidetrack was drilled, up-dip, and some 250 metres of core was taken for analysis.
“The Block 30 partners will now evaluate the well data collected and put together a proposed plan to appraise the discovery,” Harbour said.
Harbour holds a 30% interest in the exploration well.
In London, Harbour shares were up 6.7p or 2.76% changing hands at 249.20p.