Providence Resources eyes low cost Barryroe drill off Cork coast

Providence Resources is considering drilling a low-cost appraisal well at its much-heralded Barryroe field, off the Cork coast, as part of a risk-sharing model with a number of third parties.

The Dublin-based exploration firm said yesterday that a drilling proposal “from an alliance of contractors, under a risk-sharing cost model” is under consideration.

It added that the alliance includes a major rig operator, drilling management and a well-service company.