News
HEA Advises Deltic Energy Plc on Selene Farmout
Wednesday 7th February 2024
Holt Energy Advisors Ltd
London, February 7th. Holt Energy Advisors ("HEA") notes the press release today by our client Deltic Energy Plc ("Deltic Energy") regarding its farmout to Dana Petroleum E&P Ltd ("Dana Petroleum") of Licence P.2437 including the Selene Prospect.
Dana Petroleum will acquire a 25% non-operated interest in the Licence with Deltic Energy retaining a 25% interest in the Shell operated well which remains on track to be drilled in Q3 2024. Together with the existing Shell carry, this transaction results in Deltic Energy having no exposure to estimated success case drilling costs.
Holt Energy Advisors acted as advisor on the farm-out.
The Selene Prospect is one of the largest unappraised structures in the Leman Sandstone fairway in the Southern North Sea and Deltic estimates Selene to contain gross P50 Prospective Resources of 318 Bcf of gas (with P90 to P10 range of 132 to 581 Bcf) with a geological chance of success of 70%.
For full details of the transaction, please find the link to the announcement here.
For further information:
Holt Energy Advisors Ltd
202 Davenport House
16 Pepper Street
Canary Wharf, London
E14 9RP, United Kingdom
Tel: +44 (0) 203 916 0101
Fax: +44 (0) 844 357 6895
Email: enquiries@holtenergyadvisors.com
