Faroe Petroleum

Faroe Petroleum’s Brasse 31/7-2 S appraisal well has found oil in a sand-rich reservoir of good quality in the Norwegian North Sea. Drilled to a total depth of 8,038 ft, the well targeted a seismic anomaly approximately 1.2 miles southeast of the main discovery well, 31/7-1, which was announced in July 2016. Preliminary analysis confirms the same oil/water contact as in the 31/7‑1 well and its sidetrack, and indicates good pressure communication within the reservoir. The company had made plans for a drillstem test of the latest well and was considering drilling a sidetrack well. Faroe and Point Resources each hold a 50% interest in the wells with Faroe as the operator.