Deltic Energy Share Discussion Threads

[steelwatch] 23/7/2024 17:37

If you're interested in where exactly the rig is:

[barnes4] 23/7/2024 08:05

Instead of putting out what is known

How about telling us about this material amount that we owe Shell????????

[apotheki] 23/7/2024 08:05

Graham Swindells, CEO of Deltic, commented:

"We are excited to be commencing drilling operations on Selene with our partners Shell and Dana, and for which we are fully carried for the estimated success case cost. This will be the first exploration well spudded on the UKCS in 2024 and is an equally important milestone for Deltic. The Selene prospect is a high impact infrastructure-led exploration opportunity which demonstrates the strength and depth of the portfolio that we have built over the last few years, and which we estimate to be worth multiples of the Company's current market value. Despite ongoing political uncertainty, we look forward to commencing operations and continue to believe exploration on the UKCS has a hugely important role to play in supporting the provision of energy security, vital jobs within the energy sector and offsetting higher carbon intensity imported energy."

[oilretire] 23/7/2024 08:04

Note the success case plan:The well is designed to collect all key information in relation to reservoir quality and gas composition that is required to support, assuming a successful drilling outcome, a field development plan and final investment decision on the potential development of the Selene gas field without the requirement for a further appraisal well. The Joint Venture has therefore determined there is no requirement for a full well test as part of that process and, in line with normal oilfield practice, the well will accordingly be plugged and abandoned on completion.

[apotheki] 23/7/2024 08:03

Deltic Energy Plc / Index: AIM / Epic: DELT / Sector: Natural Resources

Selene Drilling Operations - Rig Mobilisation

Deltic Energy Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, is pleased to announce that the Valaris 123 drilling unit has been mobilised and is on route to the Selene well location.

Shell UK Ltd ("Shell"), in its role as Operator of Licence P2437, has informed Deltic that the Valaris 123 drilling unit was mobilised on 21 July from its current location in the Central North Sea, and is anticipated to arrive at the Selene well location in the Southern North Sea shortly, depending on weather conditions encountered during transit. Drilling operations are expected to commence shortly thereafter, with planned operations lasting approximately 90 days. The Company will make a further announcement once drilling has commenced.

The well is designed to collect all key information in relation to reservoir quality and gas composition that is required to support, assuming a successful drilling outcome, a field development plan and final investment decision on the potential development of the Selene gas field without the requirement for a further appraisal well. The Joint Venture has therefore determined there is no requirement for a full well test as part of that process and, in line with normal oilfield practice, the well will accordingly be plugged and abandoned on completion.

Deltic estimates the Selene structure to contain gross P50 prospective resources of 318 BCF (P90-P10 Range of 132-581 BCF with GCoS of 69%) in the Leman Sandstone reservoir, which is the key reservoir interval in all adjacent gas fields including Barque, Clipper and West Sole.

Following farm-outs to Shell in 2019 and Dana Petroleum (E&P) Limited ("Dana") in February 2024, Deltic is fully carried for its 25% working interest in the Selene well up to a gross success case well cost of USD$49M, which is in excess of the Operator's success case well Authorisation for Expenditure of USD$47M.

[steelwatch] 23/7/2024 07:05

It's there. Will be jacking up today...

[ashleyjv] 23/7/2024 07:03

Deltic Energy Plc, the AIM quoted natural resources investing company with a high impact exploration and appraisal portfolio focused on the Southern and Central North Sea, is pleased to announce that the Valaris 123 drilling unit has been mobilised and is on route to the Selene well location.



Shell UK Ltd ("Shell"), in its role as Operator of Licence P2437, has informed Deltic that the Valaris 123 drilling unit was mobilised on 21 July from its current location in the Central North Sea, and is anticipated to arrive at the Selene well location in the Southern North Sea shortly, depending on weather conditions encountered during transit. Drilling operations are expected to commence shortly thereafter, with planned operations lasting approximately 90 days. The Company will make a further announcement once drilling has commenced.



The well is designed to collect all key information in relation to reservoir quality and gas composition that is required to support, assuming a successful drilling outcome, a field development plan and final investment decision on the potential development of the Selene gas field without the requirement for a further appraisal well. The Joint Venture has therefore determined there is no requirement for a full well test as part of that process and, in line with normal oilfield practice, the well will accordingly be plugged and abandoned on completion.



Deltic estimates the Selene structure to contain gross P50 prospective resources of 318 BCF (P90-P10 Range of 132-581 BCF with GCoS of 69%) in the Leman Sandstone reservoir, which is the key reservoir interval in all adjacent gas fields including Barque, Clipper and West Sole.



Following farm-outs to Shell in 2019 and Dana Petroleum (E&P) Limited ("Dana") in February 2024, Deltic is fully carried for its 25% working interest in the Selene well up to a gross success case well cost of USD$49M, which is in excess of the Operator's success case well Authorisation for Expenditure of USD$47M.



Graham Swindells, CEO of Deltic, commented:



"We are excited to be commencing drilling operations on Selene with our partners Shell and Dana, and for which we are fully carried for the estimated success case cost. This will be the first exploration well spudded on the UKCS in 2024 and is an equally important milestone for Deltic. The Selene prospect is a high impact infrastructure-led exploration opportunity which demonstrates the strength and depth of the portfolio that we have built over the last few years, and which we estimate to be worth multiples of the Company's current market value. Despite ongoing political uncertainty, we look forward to commencing operations and continue to believe exploration on the UKCS has a hugely important role to play in supporting the provision of energy security, vital jobs within the energy sector and offsetting higher carbon intensity imported energy."

[steelwatch] 22/7/2024 21:04

The rig flotilla ETA: now 04:00 at current c. 6 knots with tidal assistance...

Possible RNS in the offing, (edit): unless they wait until after the well is spud...

[apotheki] 22/7/2024 14:30

On a more serious note many thanks steelwatch for your regular updates which are very much appreciated

[apotheki] 22/7/2024 14:25

Aye aye Captain

[steelwatch] 22/7/2024 13:22

Estimated time of arrival 06:00 tomorrow at current speed...

[steelwatch] 22/7/2024 12:03

Rig East of Newcastle, heading South at 4.4 knots. Destination Selene...

[steelwatch] 21/7/2024 11:31

On the move this morning. Ideal sea state.

[steelwatch] 19/7/2024 22:07

Rig for Selene probably jacking or jacked down at current location Erskine. The 2 anchor handling tugs are en route from montrose, ETA: 2024-07-20 11:00.







Game on!

edit: Also a smaller tug involved:

[mynameiskhan] 19/7/2024 09:26

Hi,Any update on rig mob ?

[fandagle] 18/7/2024 12:59

Hi Guys, just a gentle reminder that herecomesthesun is a convicted pheadophile, please don’t engage, he has been reported to ADVN as a matter of urgency

[bountyhunter] 17/7/2024 17:42

Quite a tick up at the close, hopefully a case of "they thought it was all over" - but it was not. 😉
Selene could save us.

[steelwatch] 16/7/2024 08:49

The 2 AHTS are Maersk Mover and Maersk Mariner which may be tracked here:

[steelwatch] 15/7/2024 17:47

Latest on Selene rig mobilisation outstanding requirements:

2 X AHTS (Anchor Handling Tug/Supply) R/M Valaris 123, D/D 14 Commencing 18.07.2024

[herecomesthesun] 15/7/2024 08:30

cat33 is Oilman Dim

[cat33] 14/7/2024 14:09

Good weekend write up from Jim https://oilman.beehiiv.com/p/oilman-jims-letter-july-14-2024Worth reading

[pugugly] 13/7/2024 14:34

The compensation orders by the Courts could run into the high 100's of Millions and who will have to pay. The poor bloody tax payers - The country will have to import hydrocarbons from America. Russia Middle East etc. So taxpayers money wasted yet again on supporting carbon profligate regimes -

They say they want to grow the UK economy - So they start by crucifying a significant part of it.