The Norwegian oil and gas company Vår Energi $VAR (-0,7%) and its partner Kistos Energy have drilled a dry well in the Balder area in the North Sea.
The well 25/8-C-23 D, named "Prince Updip", was drilled from the Ringhorne platform, just over 200 kilometers west of Stavanger, as part of production license 027.
Vår Energi is the operator of the license with a 90% interest, while partner Kistos Energy (Norway) holds the remaining 10%.
Production license 027 was awarded in 1969 in the second licensing round on the Norwegian Continental Shelf (NCS). This is the 13th exploration well drilled within the license area. The Balder and Ringhorne Øst fields are also located in this license area.
Exploration activities have already taken place within the production license in 2021, when exploration wells 25/8-20 S, B and C proved hydrocarbons in two levels.
Based on the drilling results, the well was classified as dry with hydrocarbon shows and has now been permanently shut-in and abandoned.