Cairn Energy announces positive results from Senegal well tests

Cairn Energy announced the successful testing of the SNE-2 appraisal well offshore Senegal with positive results.

The oil and gas exploration and production company said operations have been safely and successfully completed following drilling, coring, logging and drill-stem testing and the well is now being plugged and abandoned.

Cairn said drill-stem testing was carried over a 12 metre interval which produced a stabilised but constrained oil flow rate of 8,000 barrels per day of high quality pay.

Chief executive Simon Thomson said: “We are delighted with the results of the SNE-2 well and in particular the well tests, which are significant in demonstrating the ability of the reservoirs to flow at commercially viable rates.

“The results help to confirm the overall scale and extent of the resource base in Senegal and further appraisal activity is expected to lead to future revision of the estimates. We now eagerly look forward to the results of the SNE-3 well."

At 0815 GMT, Cairn shares were up 6.4% to 167.80p.