The Bugle North well targets the northern extension of the Bugle oil discovery that was appraised by the P815 group in 2008. The well is to be drilled by the Glomar Arctic IV semisubmersible drilling unit to a total depth of approximately 15,000ft and is expected to take approximately 60 days to drill to that depth. The cost of the well will be equally split between partnerships, exposing Stratic to 7.5% of the gross well cost estimate of approximately GBP25m.
Stratic, an oil and gas company, is involved in the production, development, appraisal and exploration of hydrocarbons. The company’s main interests are in the North Sea (UK and Dutch sectors) and Italy, with further interests in Turkey, Syria, Slovenia and Morocco.
