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Jersey Oil expects Verbier appraisal towards end of 2018

Jersey has an 18% stake in Verbier, where initial estimates are for 25 and 130mln barrels of oil equivalent
Rig
Verbier is in the UKCS section of the North Sea

Jersey Oil & Gas (LON:JOG) has been advised that drilling of the Verbier Well in the UK Continental Shelf region of the North Sea has been pushed back a few months.

Originally, the plan was to drill the appraisal well this quarter, but operator Equinor (the new name for Statoil) says Verbier will now be the third well in a UK drilling campaign using the West Phoenix rig as opposed to the first.

READ: All eyes on Jersey Oil & Gas’s upcoming appraisal well at Verbier

Drilling is now expected towards the end of 2018, though the delay is not expected to result in any change in the well budget.

Jersey has an 18% stake in Verbier, where initial estimates are for 25 and 130mln barrels of oil equivalent.

The purpose of the planned appraisal well is to determine the potential volume range in the discovery, said the statement.

Andrew Benitz, Jersey’s chief executive, added the well is still within previously advised capex guidance.

West Phoenix is a semi-submersible rig designed for drilling in harsh climatic environments.

 

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