Aberdeen-based oil explorer Xcite Energy said today it had sold the first cargo from its northern North Sea Bentley field at a higher-than-expected price.
A load of more than 135,000 barrels of crude from the field, about 100 miles east of Shetland, was sold to a European refiner through a deal with BP Oil International.
Xcite said the price was “better than the company’s assumption”, at a 12% discount to the Brent bench mark price.
The firm is carrying out an extended well test on the Bentley field using the Rowan Norway semisubmersible rig.
This is due to end in within the next two weeks, said the firm, which aims to launch and agree a farm-out on the field later this year before starting a phased development programme.