Deltic retains exploration enthusiasm

The UK independent has successfully brought in partners and is gearing up to drill

Exploration has been something of a dirty word on the UK continental shelf (UKCS) in recent years. But AIM-listed explorer Deltic Energy is confident there is still economic oil and gas to find in the basin. And it can point to the persuasive power of its argument, having successfully completed farm-out deals with Shell in 2019 and with UK independent Capricorn Energy—then called Cairn—last year. Petroleum Economist spoke to Deltic CEO Graham Swindells to find out more about the attractions and challenges of growth via the drill bit. What drove the success of the ­Capricorn farmout? Swindells: What we have is a group of five contiguous licences stretching over the best part of 3,000km² of th