The concession, which covers an area of about 234,000 acres, is located mainly in the autonomous community of Castile and Leon.
BNK acquired this concession mainly for shale gas targets but the concession has also some conventional oil and gas potential.
The primary target is a Jurassic-aged shale, which based on available information ranges, in the most prospective areas, from 100m to over 200m in gross thickness at depths of about 2,500m to 4,500m, the company said.
This concession brings BNK’s total acreage in Europe to about 3.8 million net acres in five separate basins.
