i3 opens data room to entice farm-in partners for UK offshore assets
UK independent i3 Energy has opened its data room to potential partner companies looking to farm into its UK North Sea assets ahead of an upcoming appraisal drilling program.
i3 Energy said on Thursday that the farm-out would fund a 2020 appraisal drilling program on its assets in 13/23c Block in the UK North Sea.
According to the company, the data room is now open and companies are actively evaluating the opportunity.
The company successfully completed the drilling of the Serenity 13/23c-10 well in late October 2019. Preliminary well results were consistent with i3 Energy’s pre-drill estimate of 197 mmbbls STOIIP for the entire Serenity closure within the company’s license area.
After plugging and abandonment of the Serenity well, the Borgland Dolphin semi-submersible rig mobilized to the Liberator field to drill the final well in the 2019 drilling program. i3 Energy hit oil on the Liberator 13/23c-11 well in late November of the same year.
The company also said on Thursday it was planning to list its shares on a secondary exchange.
i3 added that it was doing it for administrative reasons related to the company’s Loan Notes issued May 31, 2019, and explained that this was not being done in preparation for imminent equity placing as indicated by market rumors.
Offshore Energy Today Staff
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