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Providence Resources PLC

Providence Resources reveals rig selection for upcoming Barryroe well

A well site survey programme is anticipated in the second quarter ahead of drilling in the third quarter

oil and gas operations
The chosen COSL drill rig is presently in Norwegian North Sea

Providence Resources PLC (LON:PVR) told investors that a drill rig has been selected for an upcoming drill programme at the Barryroe oil field in the Celtic Sea, offshore Ireland.

In September Barryroe’s operator EXOLA ( a wholly owned Providence subsidiary), alongside fellow Barryroe partners APEC Energy Enterprises and Lansdowne Oil & Gas (LON:LOGP), hired China Oilfield Services Limited (COSL) to provide all services and equipment for the drill programme.

READ: Providence Resources confirms Barryroe progress with drilling eyed in Q3 2019

COSL has now nominated the ‘COSLinnovator’ semi-submersible drilling unit, currently located in the Norwegian North Sea, for the programme.

A well-site survey is due to take place during the second quarter in order to prepare for the offshore operation.

“The rig nomination allows us to progress the rig-related consents for the upcoming Barryroe appraisal drilling programme.  Subject to the receipt of all necessary regulatory approvals, we currently envisage rig mobilisation and drilling commencing during Q3 2019,” said Tony O’Reilly, Providence chief executive.

“The Barryroe partners look forward to working closely with COSL on the execution of this major drilling programme and further project announcements will be made as appropriate.”

Quick facts: Providence Resources PLC

Price: £0.08

Market: AIM
Market Cap: £49.01 m
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