Spirit Energy and partner Dana Petroleum have extended the contract for Teekay’s Hummingbird Spirit floating production, storage and offloading vessel at the Chestnut field off the UK after deciding to invest £140 million ($180 million) in new drilling to unlock fresh reserves, writes Rob Watts.
Spirit plans to start drilling a fourth production well by the end of year, which could extend the field’s life by as much as three years.
