Serinus Energy drilling preparations in Romania are ahead of schedule

Serinus Energy plc (LON:SENX) has announced that the exploration drilling program in Romania is progressing and the work to prepare for drilling is ahead of schedule. The Company’s plan is to drill two wells sequentially into two separate natural gas prospects located near the Moftinu gas field and gas plant. Subject to the results of the first two wells the Company anticipates drilling a third well to complete this 2022 drilling programme. 

The two prospects to be drilled during this operation are the Canar prospect and the Moftinu Nord prospect. The Company’s recently completed 2D seismic acquisition program has confirmed the attractiveness of these prospects.

Subject to the timely approval of all permits the Company intends to drill the Canar-1 well located 4.0 km to the west of the Moftinu gas plant, commencing in late June or early July.  Upon completion of the Canar-1 well the Company expects to drill the Moftinu Nord-1 well.  Moftinu Nord is a distinct gas prospect located 5.2 km to the northwest of the Moftinu gas plant.

Permitting for these wells has commenced and is expected to be completed within the next few weeks. All long lead items for the Canar-1 well have arrived at the Company’s warehouse in Satu Mare county.  Remaining long lead items for the Moftinu Nord-1 well will be available prior to the planned commencement of drilling.

The surface works, including access roads and drilling platforms, for both wells are underway and near completion. The Company has secured a drilling rig for the programme and a rig mobilisation order is expected in late June.

The Company is fully funded for its 2022 Capital Programme in Romania and Tunisia.

Serinus Energy will provide further updates to the market as this drilling program progresses over the summer.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Share on twitter
Share on linkedin

More articles like this


Serinus Energy revenue increases to $29.3 million

Serinus Energy plc (LON:SENX), has announced its interim results for the six months ended 30 June 2022. Financial ·      Revenue for the six months ended 30 June 2022 was $29.3 million (30 June 2021 – $15.9 million) ·      Funds from


Oil to hit $120 again by winter

While oil and gas prices may continue to weaken in the near term, by the time winter sets in, the market is going to become extremely tight and the per-barrel price of oil should return to around $120,


Oil prices climb

Oil prices rose on Friday, bouncing off their lowest levels since February in the previous session, as supply shortage concerns were enough to cancel out fears of slackening fuel demand. Brent crude rose 55 cents, or 0.6%, to


Oil prices rise

Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand. Brent crude futures rose 10 cents, or 0.1%, at $96.88 a barrel at 0653


Oil rises for a second day

Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key oil and natural gas supplier to the region, cut gas supply through a major pipeline. Brent crude futures


Oil prices extend gains

Oil prices have extended gains, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement


Serinus Energy CEO increases shareholding

Serinus Energy plc (LON:SENX) has been informed that Jeffrey Auld, Chief Executive Officer of the Company, purchased on 13 July 2022 an aggregate of 98,000 Ordinary Shares in the Company at an average price of 9.2 pence per


Oil edges higher

Oil edged up on Wednesday, a day after settling below $100 a barrel for the first time since April, and gains were limited by a U.S. supply report showing rising inventories and caution ahead of U.S. inflation data.


Oil prices bounce back

Oil prices rose on Wednesday, clawing back some of Tuesday’s heavy losses as supply concerns returned to the forefront and outweighed lingering worries over a global recession. Brent crude futures rose by $1.62, or 1.58%, to $104.39 a


Oil extends gains

Oil prices rallied for a third day on Tuesday as major producers Saudi Arabia and the United Arab Emirates looked unlikely to be able to boost output significantly, while political unrest in Libya and Ecuador added to supply


Oil price rally shows no sign of slowing

The U.S. national average for gasoline hit $5 per gallon last week, the highest ever. Brent crude is trading at $120 per barrel and is unlikely to subside much further as China comes back in full force. And according to


Oil futures jump

Oil futures jumped on Monday, with Brent rising above $120 a barrel after Saudi Arabia hiked prices for its crude sales in July, signaling tight supply even after OPEC+ agreed to accelerate output increases over the next two


Oil prices climb to over 2-month highs

Oil prices rose on Monday, hitting their highest in more than two months, as traders waited to see whether the European Union would reach an agreement on banning Russian oil imports. The Brent crude futures contract for July,


Oil prices rise in tight market

Oil prices rose in early trade on Monday with US fuel demand, tight supply and a slightly weaker US dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown fuelled worries about a sharp slowdown

No more posts to show