Business
Commencement of drilling
Commencement of drilling.
About this update from Beacon Energy Plc
[{"type":"text","content":"\n\n19 June 2023\nBeacon Energy plc\n(\"Beacon Energy\" or the \"Company\")\nCommencement of drilling at the Schwarzbach-2 Development Well \nBeacon Energy (AIM:BCE) is pleased to announce that drilling has started at the Schwarzbach-2 (\"SCHB-2\") development well within the Erfelden Field, onshore South West Germany.\nDrilling operations are expected to take in the region of 25 days to reach the prognosed TD drilling depth of 2255m (1709m True Vertical Depth), with an additional 12 days scheduled for testing.\n \nIt is anticipated that once completed, the SCHB-2 well will be tied-in to existing production facilities at the Schwarzbach site and put into production.\n \nEnquiries:\n\n\n\nBeacon Energy plc\nLarry Bottomley (CEO) / Stewart MacDonald (CFO)\n\n\n+44 (0)1624 681 250\n\n\n\n\n \n\n\n\n\nStrand Hanson Limited (Financial and Nominated Adviser)\nRory Murphy / James Bellman\n\n\n+44 (0)20 7409 3494\n\n\n\n\n \n\n\n\n\n\n\n\nBuchanan (Public Relations)\nBen Romney / George Pope \n\n\n+44 (0)20 7466 5000\n\n\n\n\n \n\n\n \n\n\n\n\nTennyson Securities Limited (Joint Broker)\nPeter Krens / Ed Haig-Thomas\n\n\n+44 (0)20 7186 9030\n\n\n\n\n \n\n\n\n\n\n\n\nOptiva Securities Limited (Joint Broker)\nChristian Dennis\n\n\n+44 (0)20 3411 1881\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \nFor further information, please visit www.beaconenergyplc.com and @BeaconEnergyPlc on Twitter\nTo register for Beacon Energy's email alerts, please complete the following form: https://www.beaconenergyplc.com/media-centre/news/#alerts\nAbout the Erfelden Field\nThe Erfelden oilfield is the most northern oil field in the Upper Rhine Graben and is comprised of four juxtaposed structural segments: the mainly depleted Kuehkopf segment, the producing Schwarzbach Main segment, the discovered Stockstadt Mitte segment and the unproven Schwarzbach South segment.\n \nThe westerly Kuehkopf segment was discovered by Exxon and produced oil between 1956 and 1985, who also operated the adjacent Stockstadt field. Both accumulations were discovered, appraised and developed from the subsurface description from legacy 2D seismic data.\n \nRhein Petroleum subsequently secured the licence (Opera...