LONDON (ShareCast) - (Sharecast News) - Oil and gas company Upland Resources noted on Friday that Corallian Energy, as operator of UK Seaward Production Licence P2235, has now signed a contract with UK-based drilling contractor Ensco for the provision of the Ensco-72 jack-up rig to drill the Wick well.
The London-listed firm said the rig site survey had been completed, and Corallian Energy expected drilling of the Wick well to take place in the fourth quarter, following receipt of the outstanding necessary regulatory approvals and consents.

"We are pleased to announce the signing of the contract with Ensco which represents another important step towards drilling the potentially transformative Wick well," said Upland chief executive officer Steve Staley.

"We look forward to the receipt in due course of the necessary regulatory approvals to enable the well to spud in the fourth quarter of this year.

"We are also looking forward to working closely with Ensco when drilling commences and will continue to update the market on further developments."

In November 2017, Upland's wholly-owned subsidiary, Upland Resources UK Onshore, entered into a conditional agreement with Corallian Energy to farm-in to a 40% interest in Licence P2235, containing the Wick prospect.

The farm-in agreement between Corallian Energy and Upland UK was then completed on 24 May.

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