Chevron Spuds P2-10 Well in Netherlands After Delay, Xtract Announces

The P2-10 well has recently been spudded in the Netherlands after a month's delay, Xtract Energy has announced. The well has been spudded by Chevron, who is the operator of the licence.

Xtract holds an overriding royalty arrangement of up to 5 per cent of sales value from Chevron and TAQA's share of gas delivered into the Dutch National Transmission System and condensate delivered onshore.

The well, which was originally set to be spudded in December 2011, was delayed by adverse weather conditions which prevented the relocation of a drilling rig to the well. The well will now follow a 100-day well programme targeting an existing gas discovery on the P2 block. Xtract says that one of the main aims of the appraisal well is to evaluate commercial hydrocarbon flow rates from an extended reach horizontal well within the Rotliegendes sandstone reservoir.

Despite the end of delays to the Dutch well, the spudding of the Danish Luna well remains delayed.  

The Maersk Resolve, which is due to be moved to the Luna prospect, is currently drilling on contract to Maersk Oil and Gas in Denmark.  

The Maersk Resolve has also been delayed by adverse weather conditions, necessitating the stakeholders in the project to wait for a suitable weather window. Noreco has informed Xtract Energy that the release date by Maersk Oil and Gas of the Maersk Resolve drilling rig is 26th January 2012.

"Despite the bad weather conditions in the North Sea over the last few weeks it is pleasing to know that the Noble Byron Welliver is now safely jacked up at the P2-10 well location and that drilling operations have commenced," Chief Executive of Xtract, Peter Moir said. "We look forward to updating shareholders on progress in due course."