Beacon Energy PLC - Isle of Man-based upstream oil and gas company with operations ranging from Europe, Africa to East Asia - Says subsidiary Rhein Petroleum's E202 drilling rig is expected to mobilise next Monday for the Schwarzbach-2 development in the Erfelden field in southwest Germany. The rig will be on location and operational by June 19, with drilling expected to take around 25 days to reach the expected total depth of 2,255 metres. In April, Beacon acquired Rhein Petroleum GmbH from Tulip Oil and Deutsche Rohstoff.
Chief Executive Officer Larry Bottomley says: "This well is the first of potentially four development wells to be drilled at Erfelden over the following two years and is the next step in delivering the self-funding business model created by the acquisition of Rhein Petroleum."
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By Sabrina Penty, Alliance News reporter
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