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July 11, 2017

Statoil and Husky Energy hit dry wells in offshore Newfoundland

Statoil and partner Husky Energy have hit two dry wells following an exploration drilling programme in the Flemish Pass Basin in offshore Newfoundland, Canada.

Statoil and partner Husky Energy have hit two dry wells following an exploration drilling programme in the Flemish Pass Basin in offshore Newfoundland, Canada.  

Located within tie-back vicinity to Statoil’s Bay du Nord discovery, the wells did not result in discovery of hydrocarbons. The two wells were drilled by the Seadrill West Aquarius in the Flemish Pass Basin.

The basin is located around 500km east of St John’s, Newfoundland, and Labrador.

Statoil Canada vice-president for exploration Trond Jacobsen said: "These results are disappointing, as we had hoped to add additional optionality to the near-field area at Bay du Nord. 

“We will now take the time needed to evaluate the results before firming up any plans for additional drilling near-field to Bay du Nord.”

Volume estimates for Bay du Nord comprise the Bay de Verde and Baccalieu discoveries announced last year. Following the lack of discovery, estimates stay at an estimated 300 million barrels of recoverable oil, as announced following Statoil’s 2014-16 drilling campaign.

"While these results mean a reduction in optionality for a potential project development, we continue to work on this project."

Statoil will continue to evaluate drilling activities in the future in other areas within the Flemish Pass Basin.

Meanwhile, the company’s review of the commercial potential of the Bay du Nord discovery is also underway.

Statoil Canada president Paul Fulton said: “We continue to evaluate the feasibility of a development at Bay du Nord.

"While these results mean a reduction in optionality for a potential project development, we continue to work on this project." 


Image:The Seadrill West Aquarius drilling rig. Photo: courtesy of Seadrill.

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