Providence begins drilling appraisal

PROVIDENCE Resources has begun its planned appraisal drilling operations at its Dunmore oil discovery in the Celtic Sea.

This comes just a week after the abandonment of one of its wells at Hook Head, also off the south coast of the country.

The Dublin-based oil and gas exploration firm started drilling at its Dunmore discovery off the Co Waterford coast, yesterday and said that the programme would last for a maximum of 40 days.

“We’re extremely pleased to announce the commencement of drilling operations at Dunmore. This appraisal well is located up-dip from the original tested Jurassic discovery well and is designed to prove additional volumes in the Dunmore accumulation,” said Providence’s chief executive Tony O’Reilly Jnr, yesterday.

The company turned its attention to Dunmore sooner than anticipated because of its oil and gas finds at its 50/11-4 appraisal well in the northern part of its much-hyped Hook Head asset being much less than originally expected.

Last week Mr O’Reilly said that the less than expected volumes “mitigated against the execution of what would have been a costly testing programme,” adding that the company and its partners would be reviewing the well data from that region of the Hook Head portfolio before charting an overall forward programme for the asset as a whole.

However, while a setback of sorts, Providence still believes that Hook Head will be a major asset for the company. Providence also recently announced that it would also be looking at exploration possibilities off the east coast at Dublin.