Cairn Energy PLC (LON:CNE) has revealed that the Chimera ‘wildcat’ exploration well in the UK North Sea failed to find hydrocarbons.
Chimera was positioned about 40 kilometres from Cairn’s Kraken field and targeted Paleocene Heimdal Sandstones, in the Lista Formation.
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The well was drilled down to 1,830 metres terminating in Lista, but, was found to be ‘dry’.
It will now be plugged and abandoned.
Cairn owns a 40% interest in the exploration project alongside partners Suncor Energy and DNO.
In early deals, Cairn shares were trading down 2.6p or 1.29% at 199p.