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UK: Siccar Point Energy delays Lyon well until 2019

12 Sep 2018

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With the Cambo well operations shortly due to complete, Siccar Point Energy and its JV partner have elected to defer the drilling of the Lyon exploration well (Licence P.1854) until 2019. This is primarily to mitigate the risk of weather downtime as the well would continue into the winter season if drilled in direct continuation with Cambo. The Lyon well will now form part of Siccar Point’s 2019 drilling programme which also includes the Blackrock exploration well (Licence P.1830).

Jonathan Roger, CEO of Siccar Point said:

'Given the challenges of winter drilling West of Shetland, it makes sense to defer the Lyon well until next year to minimise the likely cost. On the plus side we have had a very successful result on Cambo and look forward to progressing that into the development phase.'

Lyon Prospect

According to information on the Siccar Point web site - The Lyon Prospect, located West of Shetland, is estimated to contain 1-3 trillion cubic feet recoverable gas reserves. Lyon is located immediately west of the volcanic Erlend High at the edge of the Flett Sub-Basin. It is a strong seismic amplitude anomaly within Tertiary Flett sandstones which have been deposited along the edge of the Erlend High. The prospect geometry is partly structural and partly a stratigraphic pinch-out. Similar smaller prospects have also been mapped in the 3D seismic survey covering the licence area. These would be follow-up opportunities if Lyon is a success.

Siccar Point acquired a 100% operated interest in the licence from the takeover of OMV (U.K.) in January 2017. The Licence comprises Blocks 208/1b, 208/2, 208/3b, 217/27b & 217/28b. In November 2017, Siccar Point announced a farm out agreement with Ineos covering the licence (See: Siccar Point Energy farms out Lyon Prospect).

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Source: Siccar Point Energy / energy-pedia

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