Petrel in farm-out deal with gas giant

Petrel Resources is planning an aggressive programme of works after signing a farm-out agreement with Australian gas giant Woodside.

Petrel has agreed to farm out 85% of the holding to Woodside as they believe that the Australian company is bringing a new positive attitude to the Porcupine basin that will result in wells being drilled.

“If we didn’t think they were going to drill wells we would have been looking to keep a higher percentage,” said Petrel Resources managing director David Horgan.