Westwood names ‘wells to watch in 2023’

Data services firm, Westwood Global Energy Group, recently published a report that sets out the “exploration wells to watch in 2023” in the UK.

In the firm’s “UK and Norway exploration and production outlook for 2023”, Westwood explains that: “Although E&A drilling in the UK was mooted to recover in 2022, activity proceeded more slowly than expected with just five exploration and three appraisal wells completing during the year.”

Results from 2022 were deemed “disappointing” as it was reported that the UK only had one commercial discovery with discovered commercial volumes hitting the lowest since 2014 when no discoveries were made.

However, 2023 has “got off to a positive start,” according to Westwood, with reports being published already this year showing discoveries at Orlov and Pensacola.

In the UK, Westwood highlights 13 prospects that are targeting around 1.5 billion barrels of oil equivalent of pre-drill resources that may operate in 2023 with four being directly named.

Devil’s Hole Horst

© Supplied by Valaris

The license for the Devil’s Hole Horst well, located around 100 miles off the coast of Aberdeen, was awarded to Surrey-based independent oil and gas exploration and production company, North Sea Natural Resources, in the UK’s 29th licensing round.

Shearwater Geoservices completed a 3D seismic survey in September last year that covered the license that Devil’s Hole Horst falls under.

Westwood reports that the well has pre-drill resources amounting to 991 million barrels of oil equivalent.

North Sea Natural Resources earlier this year handed the Valaris Norway jackup a one-well contract for the Devil’s Hole Horst which Valaris confirmed was agreed for a day rate of $105,000.

Skerryvore

The energy consultancy firm also names Parkmead’s Skerryvore prospects in the Central North Sea.

Late last year the North Sea Transition Authority gave the London-listed energy company the green light to enter the next phase of the licence and drill the high-impact prospect.

A geotechnical work programme carried out at Skerryvore has confirmed the “considerable multi-interval potential” of the project, according to Parkmead.

Benriach

TotalEnergies’ Benriach well, located west of Shetland, was also mentioned by Westwood as a well to watch this year.

Last month Kistos confirmed that the French operator plans to spud the Benriach well in Q2.

In January it was confirmed that a rig contract had been signed and agreed by the licence partners for the well that is estimated to hold mid-case resources of 638 billion cubic feet of gas with drilling costs forecast at £16.3 million net to Kistos, or £2.4m post-tax.