Finder Energy adds new license to UK North Sea portfolio

Perth-based Finder Energy has bought another UK North Sea license from Azinor Catalyst Limited – the highly prospective P2317 license named Goose.

Finder Energy said last week that it completed the acquisition of the Goose license in the UK North Sea from Azinor Catalyst.

P2317 is located in the northwest Witch Ground Graben of the Outer Moray Firth in the Central North Sea. It covers an area of 292 square kilometres and is 175 km northeast of Aberdeen.

The license contains the drill-ready Goose prospect, a large low-risk amplitude supported Lower Cretaceous prospect, that sits immediately adjacent to the Northern Flank of the Claymore field.

The Goose prospect has Pmean recoverable resources of 75 mmbbl with additional low-risk follow-on potential at the adjacent 85 mmbbl Long Bird prospect.

Finder currently holds an operated 100 per cent working interest in this license and is seeking partners to join in the drilling of the Goose exploration well in 2022 or 2023.

Damon Neaves, CEO of Finder, said: “This acquisition further builds on a string of acquisitions announced by Finder in the UK North Sea as our strategy to secure high-quality exploration opportunities close to producing fields and infrastructure takes shape.

“The Azinor team has significantly de-risked the Goose opportunity and we are now actively seeking partners to join us in the drilling of the well as early as next year.

“Given Goose’s proximity to accessible infrastructure and the UK’s attractive fiscal regime, we are extremely excited to bring an opportunity of this calibre to the North Sea market”.

The acquisitions mentioned by Neaves relate to the buy of two UK North Sea licenses P2502 and P2524 also from Azinor Catalyst.

Finder Energy was also recently awarded a 100 per cent interest in the P2528 license in the 32nd UK Offshore Licensing Round. The company announced its entry into the UK North Sea with the award of the P2530 license in February.