The concession, located in the Cantabrian basin of Spain, targets principally shale gas but also has some conventional oil and gas potential.
According to the company, the primary target is a Jurassic-aged shale which ranges in the most prospective areas from 100m to over 200m in gross thickness at depths of about 2,500m to 4,500m.
The Sedano concession, totalling about 86,000 acres, brings BNK’s total acreage in Europe to approximately 3.9 million net acres in five separate basins.
