Dana Petroleum

Dana Petroleum, ExxonMobil and Norwegian License Partners Discover Oil at the Jetta Prospect


Dana Petroleum (LSE: DNX) announced a new oil discovery at the Jetta prospect, offshore Norway. The Jetta prospect is close to the Jotun producing oil field in which Dana is a partner.

The Jetta prospect is being explored through a license partnership with several other oil and gas companies, Norway’s ‘Det norske oljeselskap’ is the project operator. The other license partners are ExxonMobil (NYSE: XON), Bridge Energy and Petoro.

At Jetta, oil was proven, but with less reservoir thickness than expected. Data has been gathered in the reservoir zones, including pressure tests and oil samples. The partners have decided to drill a sidetrack well to investigate if the discovery is commercial.

Operations on the sidetrack well have commenced.

The Jetta discovery is the second new hydrocarbon bearing exploration well drilled in recent weeks. Earlier this month, Dana announced it made an Oil & Gas discovery at the Tornado prospect, offshore West of Shetland, UK. The well discovered gas and oil in Tertiary reservoir sandstones and extensive data collection is currently underway. A sidetrack is being planned to delineate the discovery and determine hydrocarbon fluid types and overall size of this new field.

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