Focusing on high-impact gas exploration in the Southern North Sea
- First well resulted in major oil and gas discovery at Pensacola in January 2023
- Second well targeting large scale Selene gas prospect planned for Q3 2024
- Extensive prospect inventory has potential to deliver further wells
- Success in the UKCS 33rd Offshore Licensing Round saw the Dewar and Blackadder prospects awarded to Deltic
Farm out and exploration success to date demonstrates strong technical capability
- A diversified portfolio has been built by proven hydrocarbon finders with significant UKCS experience
- Identified, drilled and discovered Pensacola, the largest find in the North Sea in the last ten years
- Deltic can utilise its technical reputation and basin knowledge to identify opportunities and build partnerships with much larger E&P companies
Developing relationships with world class JV partners
- Successfully attracted inward investment from Shell, Capricorn and Dana
- Allows Deltic to leverage the technical capabilities of major E&P companies
- Non-operated model keeps overheads low
Helping secure future domestic gas production in the UK
- Natural gas is a key part of the energy mix during the transition to Net Zero
- Domestic production has lower carbon emissions and is key for UK energy security
- UK production provides UK jobs and tax revenue
Why the North Sea?
Deltic’s focus remains on exploration and development activities on the United Kingdom Continental Shelf (UKCS), where we continue to see material value-creating upside, whilst also contributing to the UK’s energy security of supply.
We believe that domestically developed and produced hydrocarbons, in particular natural gas, will have an enormous role to play in the country’s future, not least because of their far lower carbon footprint compared to high-cost imported hydrocarbons.
With state-of-the-art infrastructure already in place to facilitate efficient exploration, we are fully committed to continuing our activities in the North Sea, as well as identifying potential new opportunities to expand our existing portfolio of offshore UK licences.
