BlueNord ASA spudded the first of two wells it has scheduled for drilling this year in Denmark’s Tor reservoir.
The reservoir sits on the Halfdan Northeast, which is part of the Halfdan field. The company says on its website Halfdan is the largest producing field in the Nordic country. The two wells add to 16 already producing gas wells in the northeast development.
“Following the spudding, drilling activities will continue for the next months, and the well [first spudded] is scheduled to be on stream during autumn this year and is expected to have an initial peak production rate of 3 mboe/day [million boepd] net to BlueNord where approximately 75% is gas”, BlueNord said Monday.
The development marks the first drilling for the Danish Underground Consortium since 2019, chief operating officer Marianne Eide noted in the announcement. BlueNord that year took over Shell PLC’s stake in the consortium.
“This is the first of a planned seven infill well campaign”, she said. “Combined with the high level of well intervention and well stimulation activity that is already demonstrating significantly positive results, we are in a strong position to mitigate the natural decline of the reservoir and maintain today’s excellent production performance”.
Halfdan Northeast has seen 21 wells drilled, 16 of which are currently producing gas, according to the company website.
Oslo-listed BlueNord has revised up its projected production for 2023, expecting 225,000-235,000 barrels of oil equivalent per day (boepd) this quarter and 260,000-270,000 boepd in the year’s closing quarter.
“Combined with the efficient execution of the Halfdan re-route project and high production uptime we have increased our current expectation of 2023 production“, Eide said in a media statement June 7.
BlueNord posted in that announcement 226,000 boepd in preliminary production figure for April and May.
The independent exploration and production company had reported 266,000 boepd in net output for the first quarter. There was a “strong underlying reservoir performance where natural decline is mitigated by high level of well activities”, BlueNord said May 10.
“The outlook also remains strong and, after the quarter end, we will spud the first of seven planned infill wells to support near-term production levels and we continue to make progress towards Tyra coming onstream at the end of this year”, chief executive Euan Shirlaw said in the earnings report.
“Overall, we continue to make strong progress in delivering a more than doubling of our production to over 55mboe/d by 2025 and returning material capital to our shareholders”, he added.
BlueNord’s proven and probable reserves stood at 182.4 million boe yearend 2022, with 46.28 million boe in the Halfdan hub, according to its annual report March 29.
It collected $221 million in revenue for January-March 2023, logging $147 million in profit after tax.
To contact the author, email firstname.lastname@example.org