Dry Wells in the Balder Area

Source Company Press Release
Company Var Energi ASA
Tags Country: Norway, Upstream: Drilling Activity, Upstream News
Date January 22, 2024

Vår Energi ASA (OSE: VAR) confirms drilling operations on the exploration wells targeting the Hubert and Magellan prospects in PL 917 has been concluded. The objective of the wells was to prove petroleum in the Hubert prospect in the Paleocene Hermod Formation, and in the Magellan Prospect in Eocene Injectites in the Balder Formation. No producible reservoir was observed, and the wells are classified as dry. The wells will be permanently plugged and abandoned. Vår Energi holds a 40% share in license PL 917 (operator), with AkerBP 40% and Equinor 20%.

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