Talisman Energy revealed yesterday it had made a discovery on its Shaw prospect in the UK sector of the North Sea.
The Canadian company said the find in block 22/22a was near to its recently announced Godwin discovery.
The well tested at 4,800 barrels of oil equivalent per day (boepd) on a restricted choke and Talisman is now drilling an appraisal sidetrack.
It said it was also reviewing options to develop the Godwin discovery via the Montrose-Arbroath facilities.
The Godwin well was previously said to have hit a highly productive reservoir, which tested at 7,500boepd.
The company said production from continuing operations in the UK averaged about 93,000boepd during the second quarter, unchanged from the same period in 2008 and down 14% from the first quarter.
Talisman said production during the second quarter was lower due to both planned shutdowns and unplanned events.
Most significantly, there was a compressor failure at Claymore and a well was shut in at the Wood field because of poor reservoir performance. A well intervention is planned for the first half of 2010.
It added: “Tweedsmuir has been performing well, with production very steady at over 25,000 boepd for the quarter. At Tartan, improved production efficiency has resulted in higher volumes across the fields producing through the Tartan facility, with production in the area averaging over 8,500boepd during the quarter.”
Talisman said it continued to progress its developments at Burghley, Auk North and Auk South, which were on schedule and on budget. It said: “At Auk North, three batch wells continued drilling during the quarter. Early indications show better-than-expected performance with an initial free flow rate on the first well of 6,500boepd through a restricted choke, however, the non-operated Affleck field continues to experience delays, with first oil now expected later this year.
“As part of the . . . programme to manage capital spending levels, Talisman has worked with its rig vendor to renegotiate the terms of its contract, with early release of the Ocean Nomad at the end of the current exploration well, combined with a corresponding extension of the commitment on the Ocean Princess.”
Talisman’s second-quarter results showed net income plunged to £35.4million from £239.7million a year ago driven by lower oil and gas prices. Worldwide production averaged 424,000boepd, 2% below the second quarter of 2008.
Year-to-date, production from continuing operations has averaged 426,000boepd, 6% above last year.
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