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Xcite Energy says drilling is progressing satisfactorily

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Xcite Energy (LON:XEL, CVE:XEL) this morning told investors that drilling operations are progressing satisfactorily.

It also announced that it has now contracted a shuttle tanker and a pipeline for the start of the Bentley field’s production phase.

Xcite said the Bentley 9/3b-7 well has so far been drilled to a depth of 6,684 feet. And drilling to the reservoir section will soon follow – after a liner has been set, cemented and pressure tested.

It has signed a time charter contract with Teekay Navion Offshore for the ‘Scott Spirit’ shuttle tanker, which will be used as the in-field storage and offtake facility during Phase 1A of the Bentley field development.

And Ocean Installer has been contracted to provide the 1.8 kilometre pipeline that will connect the Rowan Norway jack-up rig to the Scott Spirit vessel.

 

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AIM:XEL
Market: AIM
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