Irish explorer Falcon Oil & Gas has spudded the second well in the Mako Trough, Hungary after disappointing test results from its first attempt.
Besa-D-1 is the second of three exploration wells set to evaluate the gas potential of the Algyo Formation and will be drilled to around 3,000 metres depth.
Together with its partner Naftna Industrija Srbije (NIS) the firm has also completed testing of the first well, Kutvolgy-1, with results indicating production was not commercially viable.
The well will now be plugged and abandoned as the companies focus on Besa-D-1’s evaluation.
“I look forward to sharing the results of the second well and building on the knowledge of what we have learned from the testing of Kutvolgy-1 with the market in due course,” said Philip O’Quigley, Falcon chief executive.
The Hungarian licence is Falcon’s most developed asset, with operations on-going since 2005. The company estimates the Algyo Play holds 568 billion cubic feet of gross unrisked recoverable prospective gas resources (P50).