Irish explorer Tullow Oil has hit dry finds with its first wildcat well in Norwegian PL507 licence.
The Lupus-1 exploration well was targeting the Paleocene Hermod Formation as well as the sandstones of the Paleocene Ty Formation in the Rogaland Group, five kilometres southeast of the Oseberg Sør Field and 110 kilometres west of the island of Sotra in the North Sea.
The well found good quality sandstones in the Paleocene Hermod Formation, when it was drilled to a total depth of 2,357metres, but no hydrocarbons were encountered. No sandstones were found in the Paleocene Ty Formation.
The well will now be plugged and abandoned and data collected will be used to reduce risks in future exploration wells in the prospect, Tullow said in a statement.
The firm is the operator of PL507 with a 60% equity. Explora Petroleum (20% interest), Ithaca Energy (10%) and North Energy (10%) are the remaining shareholders.
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