Falkland Islands Borders & Southern Petroleum has produced a phased development concept for its Darwin gas condensate discovery south of the Falkland Islands, which has been supported by an independent study by an international engineering consultancy.
Oil and gas company Borders & Southern Petroleum with interests in the Falkland Islands announced this week it had secured the extension of its Production Licenses PL018, PL019, PL020, including the Darwin Discovery Area, according to reports in London's financial media.
Borders & Southern has issued a technical update on its Darwin gas/condensate discovery south of the Falkland Islands and near-field prospectivity. The goal was to improve understanding of the Darwin reservoir interval, both within and surrounding the discovery and also its projected facies trend along the Aptian shelf
Falklands’ explorer Borders and Southern Petroleum PLC said this week its pre-tax loss widened in 2014 as costs increased, and admitted it has struggled to find a partner for the Darwin discovery to the south of the Falkland Islands, against a backdrop of reduced investment by companies caused by the fall in oil prices.
Borders & Southern Petroleum PLC said it will join a Falkland Islands drilling consortium so it can participate in the 2015 drilling program on the Islands, as soon as partnering and funding has been secured for its licenses.
Borders & Southern Petroleum PLC said on Tuesday that new data on the Darwin gas condensate discovery in the Falkland Islands show the potential for wider hydrocarbon distribution.
One of the several hydrocarbons companies operating in Falkland Islands waters expects its next drilling phase to begin in the fourth quarter of 2014 with a minimum of two exploration wells following extensive 3D surveying of southern licences in the Diomedea fan complex adjacent to the Darwin discovery.
Hydrocarbons exploration company Borders and Southern Petroleum announced on Monday that the development of its gas condensate discovery in the Falkland Islands is commercially viable. B&S made its Darwin (East-West) discovery in April and has been carrying out tests to determine the nature of its find.
Falkland Islands exploration company Borders & Southern (AIM: BOR) announced the spudding of its second well, 61/25-1, on 11 May 2012. The well is located 170 km south of the Falkland Islands.
Oil explorer Borders & Southern boosted its available funds to help it analyse a gas discovery in the Falkland Islands, by raising £ 46 million through a share placing.