Hartshead has completed a geophysical survey that will play a key role in the development of the Anning and Somerville gas fields within its UK Southern Gas Basin project.

Despite unseasonably poor sea conditions, the Geoquip Seehorn Class 2 Dynamic Positioning Multi-Disciplined Offshore Survey Vessel successfully acquired four rock cores – one 30m core and one 50m core from each location – without any problems or incidents in under 12 days.

The cores will undergo laboratory analysis in accordance with international standards and procedures to provide a clear understanding of seabed conditions at the two fields to enable the engineering design of the platform anchor points as well as confirm what is required to locate the jack-up drilling rig over the platforms for the well operations.

Hartshead Resources (ASX:HHR) noted that initial results are already promising with the data indicating that both locations will be suitable for platform installation and the drilling rig work program.

Data from the survey will also be included in the environment statement to be submitted later this year.

Phase 1 development

Phase 1 development of the company’s UK Southern Gas Basin assets involves bringing the Anning and Somerville gas fields, which have total Proved and Probable (2P) Reserves of 301.5 billion cubic feet of gas, into production.

This will be achieved through the use of six production wells that will be connected to two wireline capable Normally Unmanned Installation (NUI) platforms.

These platforms will in turn connect subsea to infrastructure for onward transportation and processing for entry into the gas network.

Funding will be through a combination of a farmout of 60% of the project to North Sea oil and gas producer RockRose Energy and third party financing, which is being arranged by Carlingford and LAB Energy Advisors.

 

 

 

This article was developed in collaboration with Hartshead Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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