Bagpuss exploration well set to be spudded in July

London-listed Premier Oil is set to spud within weeks what could be one of the most important exploration wells in the UK North Sea in many years, targeting a new play with multi-billion barrel potential.

Located in the Moray Firth’s Halibut Horst system, the Bagpuss-1 probe is due to begin drilling next month, said a Premier spokeswoman.

An informed source expects a spud date in late July when the rig being used — the jack-up Ensco 100 — is due to arrive on location in Block 13/25 after completing delayed development drilling operations on Premier’s Solan field on the UK Atlantic Margin.

Premier