Providence now drilling in the last chance lagoon

In the aftermath of the departure of its chief executive, the exploration firm is clinging to the hope that its Barryroe oil and gas prospect will finally pay off

24th October, 2021
Providence now drilling in the last chance lagoon
Barryroe oil field about 50 kilometres off the Cork coast

In March 2012, in the aftermath of the discovery of the Barryroe oil and gas prospect, Tony O’Reilly jr, the then chief executive Providence Resources, was gushing.

It was not hard to understand why. The oilfield, just about 50 kilometres off the Cork coast, had a predicted flow of more than 3,500 barrels a day, with oil selling for well over $100 a barrel. And in those early days, it was expected that it...

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