Cairn Energy Finds Oil At Senegal SNE-4 Well

By Alex MacDonald

LONDON--U.K.-listed oil and gas firm Cairn Energy PLC(CNE.LN) said Thursday it has successfully drilled its fourth well this year at the SNE discovery in Senegal.

The well, SNE-4, encountered 100 meters of oil-bearing sands similar to SNE-1, SNE-2, SNE-3 and BEL-1 wells. It also confirmed the extension of reservoirs in the eastern extent of the SNE field and confirmed oil-bearing upper reservoir sands of similar quality to those encountered as gas-bearing elsewhere in the field.

The SNE-4 well is the joint venture's sixth well offshore Senegal and the fourth completed this year as part of a multi-well evaluation program to help delineate the shape of the structure of the field.

Cairn has a 40% stake in the SNE prospect, which is composed of three blocks offshore Senegal: Sangomar Deep, Sangomar Offshore and Rufisque. ConocoPhillips (COP) has 35% stake, FAR Ltd 15% stake and PETROSEN, the national oil company of Senegal, has a 10% stake.

-Write to Alex MacDonald at alex.macdonald@wsj.com

(END) Dow Jones Newswires

May 19, 2016 02:38 ET (06:38 GMT)

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