IRISH company Providence Resources has contracted the semi-submersible drilling rig, GSF Arctic II, for its Celtic Sea drilling programme of two firm wells plus an option offshore Ireland this summer. The company said it confirmed the presence of a significant oil accumulation at the Hook Head structure with the drilling last autumn of the 50/11-3 appraisal well. Providence logged a total of 75ft of net hydrocarbon-bearing reservoir in a 484ft gross hydrocarbon-bearing interval.
The oil is a good-quality crude (about 30Deg API), and its presence is a very positive indicator for other nearby targets in the Celtic Sea. Reserves are thought to be in the order of 60million barrels. The primary objective of the drilling programme will be to further appraise the Hook Head accumulation. Depending on the outcome of this appraisal, the partners may then also elect to drill a further appraisal well on the adjacent Dunmore East 50/6-1 oil discovery, located some 20km north of Hook Head.