Deltic Energy PLC (AIM:DELT) has confirmed a significant step forward with exploration and appraisal of its project in the Southern North Sea, with Shell securing a rig contract for two wells.
Contractor Valaris has been signed up for the drilling of the Selene exploration well and the Pensacola appraisal well.
Drilling is slated to start between June and July, using Valaris 123 which is described as a heavy-duty jack-up rig.
Deltic described the signing of the contractor as “a significant step forward for Deltic and a key milestone” for the project.
"Signing of the rig contract coupled with the firming up of the drilling schedule is another important step for Deltic as we move further down the runway towards the drilling of Selene and Pensacola,” chief executive Graham Swindells said in a statement.
“Confirmation that the JV has secured a high quality rig, with Selene and Pensacola being drilled back to back, represents another key milestone as we get closer to drilling in what is shaping up to be a very active and exciting year for Deltic."