Spring Energy Plans to Drill Its First Operated Well in 2013

Spring Energy, a privately owned Norwegian oil and gas exploration firm has entered into an agreement with Wintershall Norge ASA where as Spring Energy takes over Wintershall’s 60 % interest and operatorship in both PL 551 and neighboring license PL 550.

An agreement to take over Talisman Energy Norge AS’ 20 % interest in PL 551 has also been made.

For both licenses Spring Energy has further reached agreement with Det norske oljeselskap AS, where as Det norske will take a 20 % interest.

As a result of these transactions, Spring Energy will become operator of PL 550 & PL 551 licenses with 80 % interest, and the PL 551 license is targeting to drill a well in 2013. This will be Spring Energy’s first operated well, and the company has already started preparing for the well planning process.

PL 550 and PL 551 are located immediately to the North-West and North-East of the giant Troll oil and gas field. Spring Energy now holds a total of 32 licenses on the NCS, out of which 5 as operator.

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Offshore Energy Today Staff, May 9, 2012