Shell And Deltic Energy Begin Drilling At Pensacola Prospect In Search Of Natural Gas For Fuel Sector Investments

The Pensacola Prospect Has Strong Expectations Regarding Natural Gas Reserves in the Region. Shell and Deltic Energy Are Now Seeking to Take Advantage of This Opportunity by Starting Drilling and Exploration Campaign at the Site.

Amid a constant race in the global market for finding new reserves of fuels in the seas, Shell and Deltic Energy are making important steps for the future of their companies. This Saturday, (11/26), the companies are conducting a drilling campaign for the Pensacola Prospect, located in the North Sea. The site has the potential for a large natural gas reserve, essential for the growth of companies in the global fuel market.

The Pensacola Prospect May Secure a New Natural Gas Reserve for Shell and Deltic Energy in the Future 

The companies responsible for fuel production worldwide are now turning to the search for new oil and natural gas reserves, due to the rampant growth in demand for derivatives of these products.

Thus, the oil company Shell, one of the largest fuel producers in the world, is heavily investing in exploration campaigns for new reserves of these products.

The company has started its drilling campaign at the Pensacola Prospect this week, an area located in the North Sea.

The Pensacola Prospect is operated by Shell with Deltic Energy as a partner. Both companies decided to begin investments in drilling at the site during March of this year, aiming at the potential for natural gas reserves.

Pensacola is a Zechstein Reef prospect with a 55% geological chance of success, thus ensuring a good margin of success in finding new reserves of the product for the companies.

For the drilling and exploration project of new reserves, Shell and Deltic Energy are relying on the support of the Maersk Resilie platform, from the shipping giant Maersk.

Shell and Deltic Energy Hope to Find Reserves of 8.7 Billion Cubic Meters of Natural Gas at the Pensacola Prospect with the Drilling Campaign

Deltic Energy holds a 30% stake in the Pensacola Prospect and, therefore, has been strongly supporting Shell in the search for new reserves.

Additionally, the expectation is that drilling at the site will find reserves of 8.7 billion cubic meters of natural gas, a significant number for the current market.

Drilling operations are expected to last between 60 and 90 days, and the well has been planned to be capped and abandoned after the drilling operations.

“We are excited to have started operations on our first exploration well at the Pensacola gas prospect. Pensacola is a potentially high-impact exploration prospect and represents what we hope will be the first of many wells as the company continues to implement its strategy to identify opportunities and discover gas to meet the energy needs of the UK,” commented Graham Swindells, CEO of Deltic Energy.

Learn More About Deltic Energy

Deltic Energy Plc is a natural resources investment company listed on AIM that has invested in several offshore oil and gas assets in the UK and is focused on realizing the additional exploration potential of this proven hydrocarbon province.

Deltic’s assets are focused on high-impact gas exploration in the North Sea, aiming for a lower-cost, lower-carbon alternative to transcontinental oil and LNG imports while supporting energy security and employment in the UK during the energy transition.