The well LDS-01 represents the first of two-well campaign on the Drenthe VI concession, which targets several onshore gas prospects, and was drilled to a depth of 2225m true vertical depth sub-sea (TVDSS)

oil-rig-6522473_640

Parkmead makes new gas discovery in Netherlands. (Credit: Guilherme Reis from Pixabay)

UK-based independent oil and gas company Parkmead announced that at the LDS-01 well in the Netherlands has encountered gas columns in the primary target horizons.

The company has completed the drilling activities at the well, and is now ready for tie-in to production, after the conclusion of the LDS-02 well.

The Drilltec Synergy 2 rig has subsequently spudded the LDS-02 well.

LDS-01 represents the first of two-well campaign on the Drenthe VI concession, which targets several onshore gas prospects.

The well was drilled to a depth of 2225m true vertical depth sub-sea (TVDSS), and encountered gas at multiple intervals, said Parkmead.

Parkmead executive chairman Tom Cross said: “We are delighted to announce a gas discovery from the first well of the two-well LDS drilling campaign.

“The immediate proximity to production infrastructure allows for an extremely short tie-in period, and we expect first gas to be onstream within the first quarter of this year.”

Parkmead said that the new gas discovery at LDS-01 will provide the company with immediate net production and cashflow.

Also, it will significantly de-risks follow-on prospects that the LDS-02 well is targeting on the Drenthe VI concession, said the company.

Cross added: “Parkmead’s assets in the Netherlands continue to yield additional gas discoveries and so enhance production from this prolific onshore region.

Parkmead’s existing onshore gas fields are performing exceptionally well, with very low operating costs of less than $9 per barrel equivalent due to astute financial and operational discipline.”

In February 2018, Parkmead has acquired the remaining 40% stake in the Perth and Dolphin oil fields in the UK Central North Sea, for an undisclosed amount.