Irish oil and gas exploration company Providence Resources said today it has successfully drilled a second well in the Gulf of Mexico.
'The actual drilling results met pre-drill expectations with the discovery of 2 high quality gas bearing sands with a combined net gas pay equal to the pre-drill expectations,' Providence said in the statement to the Irish Stock Exchange.
'Average porosities derived from well log analysis and sidewall core data indicate good quality sands and therefore is likely to provide significant gas flow rate potential', it added.
First gas is expected to be produced from the A2 well towards the end of August this year, it said.
Providence shares were trading up 10% on the ISEQ in Dublin this morning.
