Globe goes out dry
Drilling on the UK Globe prospect in the North Sea has completed with a failure to find hydrocarbons in the primary target and in a secondary prospect.
Operator Valiant Petroleum said the Globe well reached a total depth of 1,600 m (5,251 ft) – and was drilled ahead of schedule and below the drilling budget, in blocks 9/22 and 9/23c.
But the hole failed to find oil or gas in both Globe and in the secondary Roebuck target and has been plugged and abandoned. Drilling commenced on 24 May.
The well was drilled by the Transocean Prospect semi-submersible which is next due to move on to two wells on the Northern North Sea Causeway discovery, in which Valiant holds 14% equity.
“While the Globe result was disappointing, we view our exploration program on a portfolio basis and look forward to drilling the rest of the prospects in our 2008 exploration campaign during the second half of the year,” said Valiant chief executive Peter Buchanan.