Paladin finds further reserves on Montrose

London-based independent Paladin Resources has proved a significant extension of the Montrose field with its first operated well in the UK North Sea. Paladin, which acquired operatorship of this mature field from BP last year, employed the semisubGSF 140 to drill a structure to the northwest of Montrose. Well 22/17-2 intersected a 400 ft thick Forties sandstone interval: the top of this section of the reservoir was 23 ft high, and reservoir quality was as predicted, with a net gross ration of around 80% and average porosity of around 21%.

Early analysis of the log and pressure data suggests good pressure communication with the nearest Montrose development well, 1.8 km to the south, and that the oil-water contact at the site of the new well matches the deepest level previously recorded on the field. Paladin plans to integrate the results into existing reservoir engineering models to establish the best way of developing the new reserves.

GSF 140 is moving on to drill another prospect for Paladin called Brechin in block 22/23, 3.5 km east of the Arkwright field. The operator is also looking to engage Prosafe to install a modular drilling rig on the Montrose platform, with a view to starting a multi-well infill and step-out program by year-end.

05/11/04