Parkmead takes control of gas-prospective North Sea license

Offshore staff

ABERDEEN, UK – Parkmead has completed its acquisition of a 50% interest in UK southern North Sea license P.2209 from Verus Petroleum, containing the Farne Extension prospect and four other leads.

The concession covers blocks 42/19 and 42/20b: Parkmead now has a 100% controlling interest. The company estimates potential resources at 175 bcf in-place.

Both blocks 42/19 are southeast of the INEOS-operatedBreagh gas field. The main play fairway developed on the acreage includes the Carboniferous sands, which form the productive reservoirs at Breagh and the nearby Kilmar and Cavendish fields.

Farne Extension is a northwesterly extension of the Farne prospect mapped in the adjacent block to the east. The four additional leads identified at Carboniferous level, like the Farne Extension, are structural closures mapped at Base Permian level.

08/09/2017