Oil explorer Providence Resources said today it expected the Barryroe well off the Irish coast would be commercially viable.
The Dublin-based firm said the well flowed at a rate of 3,500 barrels of oil per day (bopd), nearly double the 1,800bopd rate it said would make Barryroe commercial.
The company said it now wanted to upgrade its field estimate, which currently stands at 60million barrels of recoverable oil.
