UK-based Longboat Energy has announced new discovery at the Rødhette exploration well in the production license (PL) 901, located in the Norwegian part of the North Sea.

The exploration well, designated 7122/6-3 S, is said to be the first among the seven-well exploration programme.

It is operated by Var Energi with 50% stake alongside Longboat and Concedo with 20% each, and Equinor owning the remaining 10%.

The Rødhette exploration well has encountered a 29m hydrocarbon column in the primary target in the Middle Jurassic Stø Formation.

Top of the reservoir was reached close to prognosis comprising high net-to-gross, moderate to good quality sandstone, said the company.

The well was drilled 30km north of the Goliat field and 5km south from Tornerose discovery, and may need around five to seven weeks to complete, incurring net costs of around $7m.

According to the data, the well shows an indicated a gas column of around 18m over an oil rim, and the preliminary estimates suggest the discovery to be around 9 to 12mmboe.

Longboat said that the volumes of Rødhette discovery are low compared to pre-drill expectations, and is planned to be plugged and abandoned.

Longboat chief executive Helge Hammer said: “We are pleased to have made a hydrocarbon discovery with our first exploration well following our transformative acquisitions made this summer.

“We look forward to working together with the operator to use the data collected to assess the development potential for Rødhette alongside existing discoveries and further exploration potential in the area.

“We are in a very busy period of drilling with Egyptian Vulture and Mugnetind exploration wells now both underway with the potential to create significant shareholder value.”

Longboat has also announced the spud of the Mugnetind exploration well, in which it owns 20% stake, using the Maersk Integrator jack-up rig.

Operated by AkerBP, Mugnetind prospect is estimated to contain gross mean prospective resources of 24mmboe with further gross potential upside estimated at 47mmboe.

The company said that it has a 51% probability of succeeding with the Mugnetind prospect, where reservoir presence and quality are the prime risks.

Longboat Energy was established by the ex-Faroe Petroleum management team to create a full-cycle North Sea E&P company for low-risk, near-field exploration.