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Buzzard north terrace to be drilled
Posted 25.04.2012 12:34:31 av John Bradbury
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Nexen in the North Sea says it will drill a new exploration well to test a northern extension of its huge Buzzard field this year.

And in its first quarter results statement today Nexen said it has seen improved reliability at Buzzard with production efficiency at 86% during the first three months this year, which it says is consistent with its efficiency target of 85%, excluding planned downtime

“We continue to drill in areas surrounding our existing infrastructure,” said interim president and chief executive Kevin Reinhart, “At Buzzard, we plan to drill an appraisal well in the north terrace area,” Reinhart disclosed.

Potential tiebacks to Nexen's Buzzard, Scott and Ettrick facilities are also being considered.

For the three months to March, Nexen reported operational cash flow of Can. $670 million, compared with $669 m in the first quarter last year, and net income for the first quarter of $171 m, down from $202 m a year ago.

But the results statement made no mention of the fire in a compressor in the new Buzzard gas sweetener platform which shut down the entire field at the start of the week.
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