North Sea Orcadian Energy finds partner for Pilot heavy oil project

London-listed Orcadian Energy has signed a “provisional” agreement with an undisclosed North Sea operator on farming out a majority stake in an ultra-heavy oil project known as Pilot, estimated at more than 79 million barrels, it said Sept. 18. In a statement, Orcadian said it had signed a “heads of agreement” to farm out an 81.25% stake in license P2244,… London-listed Orcadian Energy has signed a “provisional” agreement with an undisclosed North Sea operator on farming out a majority stake in an ultra-heavy oil project known as Pilot, estimated at more than 79 million barrels, it said Sept. 18. In a statement, Orcadian said it had signed a “heads of agreement” to farm out an 81.25% stake in license P2244,… Read More