Licence partners including Longboat Energy and OKEA have confirmed the Ginny/Hermine exploration well in the Norwegian Sea failed to encounter hydrocarbons.
London-listed Longboat holds a 9% working interest in the prospect on licence PL1060, alongside operator Equinor (31%), OKEA (40%) and Chrysaor Norge (20%).
The West Hercules rig began drilling at exploration well 6407/9-13 on January 3, targeting both the Upper Jurassic Ginny and the Middle Jurassic Hermine prospects located between the Galtvort discovery and Hasselmus field development.
The prospect is located north west of the OKEA-operated Draugen field.
The well was drilled to a vertical depth of 2,319 metres below sea level and encountered the target reservoirs water wet.
Longboat said the well will now be plugged and abandoned, adding that drilling operations were carried out within budget and with no HSE incidents.
OKEA added that data acquired in the well will be used to evaluate the further potential in the licence, including the Galtvort discovery, and support other exploration activities in the area.
Longboat’s chief executive, Helge Hammer, noted: “Although this was the least impactful target in our portfolio, we are disappointed that the Ginny and Hermine prospects were not successful, particularly given their location between discoveries of similar age and structure.
“In the meantime, the company is looking forward to continuing the fully funded well programme with the Kveikje well expected to spud next month, the Cambozola wellspudding in the spring and Copernicus in the summer.”
Ginny/Hermine is the fourth in a seven-well Norwegian campaign for venture partner Longboat.
Together with several partners, Longboat embarked on the campaign in mid-2021, which saw the drilling of the Rodhette prospect – in which it holds a 20% share – followed by Egyptian Vulture (15%) and Mugnetind (20%).
While the latter was deemed non-commercial, the former two prospects appear promising, with Egyptian Vulture judged to be a “material discovery with substantial upside” according to a November 2021 investor presentation.
Overall, Longboat has said the seven-well portfolio has “an attractive risk and reward balance,” with the chance of success for each well in the 22-55% range for all but one high-impact prospect.
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