Magellan Petroleum Corporation
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Magellan Petroleum Corporation is an independent oil and gas exploration and production company headquartered in Denver Colorado.
It is 'focused on the development of a CO2-enhanced oil recovery ("CO2-EOR") program at Poplar Dome in eastern Montana and the exploration of unconventional hydrocarbon resources in the Weald Basin' in the United Kingdom.
Contents
UK interests
From their website:
- Magellan's UK position consists of interests in seven exploration permits located in or adjacent to the Weald Basin, which is located southwest of London and which contains multiple unconventional and conventional oil and gas prospects.
Partners
In the UK Magellan co-owns three of its licences equally with Celtique Energie, which acts as operator. PEDLs 231, 234, and 243 cover the depocenter of The Weald Basin, which is located southwest of London: [1]
- representing 124 thousand net acres, that are prospective for unconventional oil and gas development from the Kimmeridge Clay and Liassic formations and may be prospective for conventional development in other formations.
On the periphery of the Weald Basin, Magellan maintains non-operated interests in four additional exploration licenses,
- representing an additional 16 thousand net acres, that may be prospective for conventional oil and gas targets.
UK exploration in 2014
Magellan announced plans to drill two exploration wells within its licence areas in 2014.
The first of these was to be carried out by partner Angus Energy, which announced plans to spud in July 2014 an exploration well on the Horse Hill prospect located within the Petroleum Exploration and Development License ("PEDL") 137 area. Angus will carry 100 per cent of Magellan's costs for this well, after which the company will retain a 35 per cent working interest in the well and the PEDL.
Later in 2014, Magellan planned to fund its 50 per cent share of a well to be drilled by its partner Celtique Energie ("Celtique") at Broadford Bridge, located within the license area of PEDL 234.
- Both wells will be drilled vertically and completed without the use of hydraulic fracturing and ultimately target conventional Triassic gas plays. However, during drilling, Magellan will have the opportunity to core and log various shale and tight formations in the Cretaceous and Jurassic sections of the Weald Basin.[2]
- Magellan owns an 11% ownership stake in Central Petroleum Limited (ASX: CTP), a Brisbane-based junior exploration and production company that operates one of the largest holdings of prospective onshore acreage in Australia.
- Magellan also owns an exploration block, NT/P82, in the Bonaparte Basin, offshore Northern Territory, which the Company planned to farm-out in 2014 [3]
People
- J. Thomas Wilson, President and CEO of Magellan
Contact
- Website: http://www.magellanpetroleum.com/
Affiliations
Resources
Notes
- ↑ Magellan Announces Plans for Two UK Wells in 2014, Press Release, dated 6 March 2014, acc 4 September 2014
- ↑ Magellan Announces Plans for Two UK Wells in 2014, Press Release, dated 6 March 2014, acc 4 September 2014
- ↑ Magellan Announces Plans for Two UK Wells in 2014, Press Release, dated 6 March 2014, acc 4 September 2014
