Statoil now holds a 19% interest in the field. Petoro holds
Statoil says development options are being evaluated for
the Garantiana discovery in the Jurassic Cook formation on
production license 554, 15 km north of Visund field in the
North Sea (OGJ Online, Nov. 3, 2014). Water depth is 380
Recoverable resource potential is 50-70 million boe,
Other PL 554 interests are Aker BP ASA and Point Resources AS, 30% each.
Gulf of Mexico producers
become Talos Energy Inc.
Talos Energy LLC, Houston, and Stone Energy Corp., Lafayette, La., have agreed to merge in an all-stock transaction
creating a Gulf of Mexico producer named Talos Energy Inc.
Both companies recently have reported discoveries in the
deepwater Gulf of Mexico. And Talos this year reported an
oil strike in shallow water off Mexico in its Zama 1 exploratory well (OGJ Online, July 12, 2017).
The combined company will have initial equity market
capitalization estimated at $1.9 billion. It will be owned 63%
by current Talos stakeholders and 37% by Stone shareholders.
Combined 2017 production of the companies is estimated
at 47,000 boe/d. The midyear reserves estimate is 136 million boe, of which 69% is oil and 74% is in deep water.
Tornado II drilling
Deepwater work by Talos includes the completion last
month of an exploratory well drilled into a fault block adja-
cent to the company’s 2016 Tornado discovery in the Green
Canyon area of the Gulf of Mexico.
The test, part of the company’s Tornado II drilling program, went to 21,107 ft TVD and logged 222 ft MD (176 ft
TVD) of net oil sandstone pay in 2,700 ft of water.
A sidetrack to delineate the initial discovery, GC 281 No.
2ST, went to 21,057 TVD and logged 297 ft TMD (283 ft
TVD) of net oil pay in two sand layers.
The sidetrack will be tied into existing Phoenix field subsea equipment and begin producing in December through
the Helix Producer I dynamically positioned floating production facility.
The Tornado discovery well flowed about 16,800 boe/d
In September, Stone Energy reported a discovery of gas and
liquids in the well operated by Deep Gulf Energy III LLC in
deep water on Mississippi Canyon Block 116.
Rhum field, 44 km north of Bruce field in 109 m of water, recently produced 1,560 b/d of oil and 154 MMscfd of
gas. Production is from two wells, completed subsea in a
high-pressure, high-temperature reservoir, flowing through
a manifold tied back to Bruce facilities. The partners plan
next year to reenter a third well, Rhum R3, which was not
brought onto production because of complications during
completion and hydrate formation.
Iranian Oil Co. (UK) Ltd. holds the other 50% Rhum interest.
The deal represents a reverse takeover for Senica under
UK securities rules, making it subject to several conditions,
including shareholder approval.
In conjunction with the acquisition, Mitchell Robert
Flegg, who was chief operating officer of Serica Energy in
2011-15, returns to the company as chief executive officer
and a director. He had been chief executive officer of Circle
Oil PLC, which entered voluntary liquidation last February.
About 110 BP employees working on the acquired properties will be transferred to Serica.
Statoil buying Total
interests off Norway
Statoil AS will become operator of Martin Linge oil and gas
field and the Garantiana discovery offshore Norway after acquiring Total SA’s equity interests for $1.45 billion.
The transaction, which remains subject to due diligence
and government approvals, covers interests of 51% in Martin
Linge and 40% in Garantiana.
Development of Martin Linge, which has recoverable resources estimated at more than 300 million boe, involves a
manned wellhead platform in 115 m of water about 42 km
west of Oseberg field.
The main reservoir contains natural gas and condensate
in high-pressure, high-temperature Middle Jurassic Brent
Group sands at 3,700-4,400 m. Oil occurs in the Eocene
Frigg formation at 1,750 m.
Production start was delayed until 2018 by a fatal May
1 accident at the Samsung Heavy Industries shipyard in
South Korea where the platform topsides is under construction (OGJ Online, July 6, 2017). The platform jacket is
A floating oil storage vessel will handle Martin Linge oil
and condensate, which will be loaded onto tankers. A pipeline will carry rich gas to the Frigg UK gas pipeline.
Statoil will control operations remotely from onshore via
a 160-km electrical cable, which it calls the longest AC power link in the world.
The system will cut emissions of carbon dioxide by
200,000 tonnes/year, it says.