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Tulip Oil gives update on Netherlands and Germany operations

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Oilfield Technology,

Tulip Oil Holding B.V. has provided a quarterly update on its oil and gas exploration and production businesses in the Netherlands and Germany.

Q10-A development by Tulip Oil Netherlands offshore

The Q10-A field produced 258 million m3 of gas during 4Q19, compared to 203 million m3 in 3Q19. The average realised gas price during 4Q19 was €12.4/MWh and the average realised gas price during 3Q19 was €10.4/MWh. The data from all drilled wells is being used to calibrate the reservoir models. Production continues from 4 wells and plans for 2 further wells are in progress.

New drilling by Tulip Oil Netherlands offshore

Conceptual field development plans have been drafted for additional drilling targets near the producing Q10-A field. These targets consist predominantly of reservoirs that have been drilled historically and flowed gas to surface, similar to Q10 before the 2015 “discovery” well.

Onshore German oil development ‘Steig’ in Rhein Petroleum

A phased development concept has been selected for Steig, with combined initial production and further appraisal using horizontal wells. Static and dynamic reservoir models are being built. The company’s latest is view is that Steig has in excess of 114 mmbbl oil in place (STOIIP).

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