On 18 December 2017 Ping Petroleum completed its acquisition of an 80% interest in licence P2157 from Summit E&P. Ping now holds 100% interest in the licence. In 2017 Summit drilled exploration well 15/16d-27 targeting the Ranger prospect. However, operations were unsuccessful and the well was plugged and abandoned as a dry hole.  Ranger was a Tertiary Balmoral target comprised of Ranger Main, East, Southeast and South. It sat above a major Basement horst with the depositional setting believed to be part of a delta slope environment. STOIIP for the prospect was in the region of 314 MMbo. The licence was awarded to Summit in December 2014 as a part of the 28th Seaward Licensing Round. Block 15/16d lies between the Piper and Tartan fields and the Lowlander discovery in the Moray Firth Province. Following completion of the deal interest in the licence is held solely by Ping Petroleum UK Limited. 
Ping Petroleum completed its acquisition of an 80% interest in licence P2157 from Summit E&P.