Oil and gas exploration company Providence Resources said this morning that, along with its three partners, it has made a new gas discovery at its Galveston Island site in the Gulf of Mexico.
The AIM-listed firm, in which Sir Anthony O'Reilly and his family have a stake, has a 10.8 per cent working interest and said development of the new field will be fast-tracked.
Initial well results have exceeded pre-drill expectations, Providence said, adding that the operator has already secured access to third party infrastructure as part of the plan of development.
