QuickView: Midleton exploration well to spud in August
On 22 June, Lansdowne (LOGP) announced that Kinsale Energy (a subsidiary of Petronas) has contracted a rig to drill a well on the Midleton gas prospect. Midleton is in the North Celtic Sea offshore Ireland and is estimated to contain 268bcf of prospective resources. Following a November 2014 farm-out agreement with Kinsale, Lansdowne owns a 20% WI and is fully carried on well drilling costs. The well is expected to spud in August 2015, earlier than previously expected. It is likely that a discovery at Midleton would require a rig for appraisal next year, which could potentially encourage other operators to explore in the area. Meanwhile, the proposed Barryroe farm-out remains contingent on the farminee’s ability to secure funding.Lansdowne Oil & Gas is an upstream oil and gas company. Co. is engaged on exploration and appraisal opportunities for oil and gas reserves offshore Ireland. As of Dec 31 2016, Co. had 20% interest in Barryroe Exploration Licence, and 10% interest in Helvick Exploration Licence, both of which are hydrocarbon exploration and in Irish waters.
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