Project Profile
Location: St George’s Channel, Republic of Ireland
Reserves: 300 BSCF
Discovery: 1994
Standard Exploration Licence 1/07 in the St. George’s Channel Basin in the Republic of Ireland contains part of the Dragon gas field as mapped from existing seismic and well data, the Pegasus gas exploration prospect and the Orpheus gas exploration prospect. The first prospect in the license was discovered in 1994 by Marathon Oil. The Jurassic aged Pegasus gas exploration prospect is located northwest of the Dragon Field in the St George’s Channel, with estimated prospective resource potential of c. 300 BSCF. Providence Resources is the operator of the license with 100% interest.
Operators:
Providence Resources plc.: Operator with 100% interest
Contractors:
Schlumberger: Contract to further de-risk the assets off Ireland’s southwest coast. Providence signed a technical deal covering its interests in the Southern Porcupine and Gorban Spur Basins. Schlumberger will assist Providence’s technical team, facilitating the opening of data-room processes as it prepares to pursue a farm-out at its Drombeg, Druid and Newgrange prospects in the first quarter of 2016.