Swift Exploration Limited is a private oil and gas exploration company formed in 2003. It focuses on developing exploration and production opportunities in the Southern North Sea and the adjacent East Midlands UK onshore province for farm-out/sale. Swift has promoted a number of opportunities in the Southern North Sea.
Swift Exploration Ltd has 3 offshore blocks currently available for farm-in or purchase, 2 contain gas discoveries and the other has a low risk exploration opportunity supported by a DHI. All 3 opportunities are close to long term export facilities.
Swift Exploration also has 6 onshore blocks operated by Cirque Energy, 4 in the East Midlands basin and 2 in the Weald basin. The East Midlands blocks contain the Branston and Nocton Oil discoveries.
Swift Exploration offering a farm-in to licence P1737, block 48/22a, through funding the drilling of a production well in exchange for a working interest in the discovery. The Overstrand discovery, drilled in 2007 has the potential at 49 bcf gas & 1.2 mmbbls condensate reserves and is conveniently located 4kms south of the producing Waveney field, offering access to the LAPS pipeline system. Commercial analysis shows that production of these reserves can yield early payback of investment and a good rate of return prior to the abandonment of the LAPS system. The recent falls in drilling and development costs indicate a commercial threshold of 12bcf at Overstrand. The Dudgeon wind farm will not affect operations at Overstrand and may provide working synergies.
Oil and Gas Cronx,
Elgood & Blythe
Independent Oil and Gas
Cronx, Elgood & Blythe
Block 49/25c contains the Acle prospect with over 200BCF Methane gas in a low risk structure and Rotliegendes reservoir. Swift & SMLV are looking for a partner to drill the Acle prospect and earn a substantial interest in the block. The Sean facilities are obvious potential export route they have a long life and the gas will be very similar to Sean Gas with very low carbon dioxide content. The minimum commercial threshold is less than 20BCF
Block 49/30b & 50/26b
Block 49/30b & 50/26b contains the Earlham Gas field with reserves of 160BCF of Methane gas. Swift & SMLV are looking for a partner to prepare a development plan on Earlham to earn an interest in the block. The Earlham Gas field was discovered in 1995 with well 50/26b-6. Talisman drilled production well 50/26b-8 in 1996 with a 3000ft horizontal section in the reservoir. The well was tested but the test was abandoned when they found out that the gas had high carbon dioxide content. Technology now allows efficient and commercially attractive methods to remove the Carbon Dioxide from the Methane allowing offshore production of the Methane in Earlham