RockRose Energy plc - Development drilling campaign
FOR IMMEDIATE RELEASE
Development drilling campaign
Designated WPGZ and WPOZ, these wells are designed to access 2P reserves of over 8 MMbbl (gross) and to support
The drilling of WPGZ marks the start of a significant period of development activity for RockRose, with the Company set to participate in at least seven wells before the end of 2020. These will help drive production growth over the next two years and further investment in growth projects is anticipated in 2021 and 2022.
A four well drilling campaign is scheduled to commence at the Shell-operated Arran gas/condensate field development in the first quarter of 2020. RockRose has a 30.4% working interest in Arran, which remains on schedule for first gas in early 2021. In addition, the first of two infill wells planned as part of the Blake life extension project will be drilled in the second half of 2020. RockRose has a 30.8% working interest in Blake.
RockRose plans to issue a further operational update in January.
Commenting, Andrew Austin, Rockrose, Executive Chairman, said:
"The spudding of WPGZ will represent just the start of a sustained period of drilling activity for RockRose. This will add significant production and value to the Company, as we continue to deliver on our strategy; growing production and generating surplus cashflow that can be reinvested to maximise returns for shareholders".
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+44 (0)20 3826 4800
Giles Fitzpatrick / Andrew Chubb
+44 (0)20 7907 8500
Hugh Rich / Nick Lovering
+44 (0)20 7659 1261 / 1224
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+44 (0)20 7894 7000
Mark Antelme / Philip Dennis / Ollie Mills
+44 (0)20 8434 2643
For further information, please visit the Company's website at www.rockroseenergy.com
This information is provided by RNS, the news service of the
Quick facts: RockRose Energy PLC
Market Cap: £148.19 m
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