Last week, two members of Buchanan’s energy team, Ben Romney (Partner and Head of Energy) and George Pope (Analyst), attended a site visit hosted by Beacon Energy at its flagship Erfelden development onshore, Southwest Germany. The purpose of the visit was to provide analysts and advisors in the sector with a detailed overview and tour of the SCH-2 drilling site, located adjacent to the Schwarzbach Production Facility.
The timing of the site visit coincided with the ongoing drilling activities for the second development well, SCH-2, having spudded just a few days prior on the 19TH of June, the fully crewed rig, contracted from RED Drilling Services, is expected to take approximately 25 days and drill to a depth of 2,255m. By the end of July, Beacon Energy hopes to assess the success of the well in a 12-day testing period, once completed the SCH-2 well will be tied into the exciting Schwarzbach Facility before coming online as a producer.
Buchanan’s Energy team has been actively involved in advising Beacon Energy on their market-facing communications during their rebranding and Reverse Takeover (RTO) process, which enabled their relisting on the AIM market. Buchanan was delighted to take a group of analysts out to visit the site of Beacon Energy. During the visit, the attendees saw the critical SCH-2 well drilling, which has the potential to be transformative for Beacon in the success case. The Company’s investment story is highly topical given its role in Germany’s Energy Security. The well has generated significant local media traction following the Company’s efforts to demonstrate strong community and wider stakeholder engagement.
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Ben and George thank their hosts Beacon Energy and their subsidiary, Rhein Petroleum GmbH, for their hospitality and for granting them the opportunity to gain a deeper understanding of the onsite operations.