The Butch exploration well 8/10-4 S encountered net oil pay of about 50m in the Upper Jurassic reservoir of the Ula formation and an initial side-track well (8/10-4 A) was drilled to appraise for additional volumes of oil further down-dip.
The company said that the side-track (8/10-4A) was water-bearing and due to technical issues, a technical side-track (8/10-4 T2) was drilled with the main objective of acquiring pressure data to establish the oil-water contact.
The technical side-track has been completed and Centrica, the operator, has calculated a preliminary resource estimate of 30 – 60 million barrels of oil equivalent.
Faroe holds a 15% interest in the Butch licence and its partners are Centrica (40%), Suncor Norge (30%) and Spring Energy Norway (15%).
