Premier Oil CEO Tony Durrant. Image courtesy of Tip TV Finance/Youtube.

Premier Oil scored twice Thursday at its Zebedee well in the Falklands Islands after the well encountered an oil bearing and a gas bearing reservoir.

The well, located in PL004B, discovered 81 feet of net oil-bearing reservoir and 55 feet of net gas-bearing reservoir.

Zebedee penetrated multiple targets in the Cretaceous F2 and F3 formations with a total hydrocarbon net pay of 136 feet, UK-based Premier Oil said.

The pay is primarily located within two F2 sands, the Hector sand that contains 55 feet of net gas pay and the Zebedee sand that contains 79 feet of net oil pay.

No oil-water contact was observed in Zebedee.

The reservoir at both the Hector and Zebedee intervals is of “good quality” and the results are in line with the company’s prognosis.

“Good” oil shows were recorded at the well’s deeper F3 targets but the sands at that location were not well developed.

The well, drilled by the Eirik Raude rig, will now be plugged and abandoned as a successful exploration well.

The Eirik Raude rig will move to drill the Isobel Deep well, the first exploration test of the Elaine/Isobel fan complex in the southern part of the North Falkland Basin.

Results from Isobel Deep are expected in late April.

“We are delighted to announce the discoveries in the Hector and Zebedee fans, which extend the play fairway further south from Sea Lion and the satellites. They will add further resource to future phases of development in the area,” Premier Oil’s exploration director Andrew Lodge said.



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