Rhode Island Farmout - Horizontal Wells

State:
Multi-State
Control #:
US-OG-704
Format:
Word; 
Rich Text
Instant download

Description

Should any Party elect not to participate in any Horizontal Exploratory Well, other than the Initial Well proposed under the terms of the Agreement, the non-participating Party agrees to farmout to the participating Parties its interest.

How to fill out Farmout - Horizontal Wells?

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FAQ

The Prudhoe Bay field is the largest field in North America and the 18th largest field ever discovered worldwide. Of the 25 billion barrels of original oil in place, more than 13 billion barrels can be recovered with current technology.

Current operators Barryroe Offshore declared the field Ireland's first commercial offshore oil find in 2012. The shallow water field is estimated to hold 81.2 million barrels of recoverable oil in its main reservoirs from a total of 278 million barrels in place.

The Barryroe Field is located in 100 metres of water, approximately 50km offshore Cork, close to the Kinsale gas fields. Barryroe is one of the largest undeveloped oil and gas fields offshore Europe and has been independently assessed to potentially contain approximately 350 million barrels of recoverable oil/gas.

The Barryroe Field is located in 100 metres of water, approximately 50km offshore Cork, close to the Kinsale gas fields. Barryroe is one of the largest undeveloped oil and gas fields offshore Europe and has been independently assessed to potentially contain approximately 350 million barrels of recoverable oil/gas.

It has been rated as the equivalent of a large North Sea oil field. As of 2020, the field is 80% owned by Providence Resources (via subsidiary Exola) and 20% by Lansdowne Oil and Gas (via subsidiary Lansdowne Celtic Sea).

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Rhode Island Farmout - Horizontal Wells