Spirit Energy spuds Fogelberg appraisal well

February 5, 2018

Spirit Energy has started drilling the Fogelberg appraisal well and contingent sidetrack in the Norwegian Sea.

The Fogelberg oil and gas discovery, located in license PL433, was announced in April 2010. The 6506/9-2 S well encountered gas and condensate in the Middle Jurassic Garn and Ile formations, and no fluid contacts were observed.

Spirit Energy is the operator of the permit with a 51.7% interest. Other partners are Faroe with a 28.3% interest and GNiG Upstream Norway with a 20% interest.

The appraisal well and the sidetrack (6506/9-4S &4A) will be drilled with the Island Innovator semi-submersible drilling rig. Spirit got a consent to use the Island Innovator for drilling and testing wildcat wells and a drilling permit for the appraisal well in January 2018.

The gross size of the Fogelberg discovery has been estimated to be in a range between 105 and 530 bcf (between 19 and 116 mmboe including the condensate) of recoverable gas and condensate. The volumetric range is large due to the Fogelberg discovery well being located high on the structure.

Faroe said on Monday that the main objectives of the appraisal well are to narrow this range in the reserves estimates and to provide additional information for development planning.

Fogelberg is located 18 kilometers north west of the producing Åsgard complex where large quantities of gas and condensate have been and continue to be produced and transported to several landing points on the European continent.

Graham Stewart, Chief Executive of Faroe Petroleum, commented: “We are pleased to announce the spud of the Fogelberg appraisal well, which aims to derisk and prove up commercial volumes in the Fogelberg field ahead of any decision to develop the field. Fogelberg was one of Faroe’s earlier discoveries and has the potential to join a number of development and pre-development projects which are on track to significantly grow Faroe’s production, cash flow and value in the coming years. The majority of these developments are a direct result of our drilling success.

“Looking ahead to Faroe’s 2018 exploration program, we continue drilling on the Iris/Hades exploration well in the Norwegian Sea, before drilling the Rugne and Cassidy prospects later in the year.”