LONDON, UK: Parkmead Group, the independent energy group, accomplished drilling activities on the LDS-01 well inside the Netherlands, which has encountered gas columns inside the primary goal horizons. The well has been accomplished and is now prepared for tie-in to production, which will follow the conclusion of the LDS-02 well.
The LDS-01 well was the primary of the two-well marketing campaign on the Drenthe VI concession targeting a number of onshore gas prospects. This first well was drilled to a depth of 2225m TVDSS, efficiently encountering gas at a number of intervals. The Drilltec Synergy 2 rig has subsequently spudded the LDS-02 well.
Tom Cross, Executive Chairman, commented: “We are delighted to announce a gas discovery from the primary well of the two-well LDS drilling campaign. The immediate proximity to manufacturing infrastructure permits for an extraordinarily short tie-in period, and we expect first gas to be onstream inside the primary quarter of this year. This will present Parkmead with immediate net manufacturing and cashflow.
The discovery at LDS-01 considerably de-risks follow-on prospects that the LDS-02 well is targeting on the Drenthe VI concession.
Parkmead’s assets inside the Netherlands proceed to yield additional gas discoveries and so improve manufacturing from this prolific onshore region. Parkmead’s existing onshore gas fields are performing exceptionally well, with very low working prices of lower than $9 per barrel equal due to astute monetary and operational discipline.”
The Parkmead Group is a UK and Netherlands focused independent energy group listed on AIM of the London Stock Exchange (AIM: PMG). The Group produces pure gas from a portfolio of 4 fields throughout the Netherlands and holds significant additional oil and gas pursuits throughout the UK and Dutch sectors. Parkmead additionally 100% owns and operates the Kempstone Hill wind energy company, producing electrical energy direct to the UK grid. This is along with a vary of complementary renewable energy alternatives all through the Group.
www.parkmeadgroup.com