North Sea-focused investing firm Deltic Vitality Plc has confirmed the presence of gasoline on the Selene prospect in the UK (UK) Southern North Sea.
The Shell plc-operated 48/8b-3Z nicely reached its complete depth of 11,614 ft (3,540 meters) True Vertical Depth Sub Sea (TVDSS) and proved a 524.9-foot (160-meter) thick part of Leman Sandstone. The highest of the Leman Sandstone was encountered roughly 230 ft (70 meters) deep to prognosis with elevated mud gasoline readings, confirming the presence of gasoline, noticed all through the reservoir interval and into the underlying Carboniferous basement, Deltic stated in a press release.
Subsequent wireline logging and fluid sampling have confirmed the presence of a dwell gasoline column above a gas-water contact at roughly 11,056 ft (3,370 meters) which is in the course of the B-Sand, the important thing producing interval inside the general Leman Sandstone part. Up to date post-well structural maps of the Selene prospect level in direction of a most gasoline column of round 328 ft (100 meters).
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Deltic stated that preliminary indications level in direction of high-quality dry gasoline, typical of manufacturing from adjoining fields, with no reported hydrogen sulfide (H2S).
Primarily based on the preliminary data out there from the wellsite, Deltic has up to date its volumetric mannequin of the Selene discovery and now estimates Selene to comprise gross P50 estimated final recoverable (EUR) sources of 131 billion cubic ft (bcf) (P90-P10 vary of 95 to 176 bcf) which is on the decrease finish of pre-drill estimates.
“Nonetheless, the majority of the recoverable sources are concentrated within the greater high quality B-Sand up-dip from the 48/8b-3Z nicely location which ought to help an easier and cheaper growth possibility with larger gasoline manufacturing per nicely than was envisaged pre-discovery,” Deltic added.
Following the demobilization of the rig, which is anticipated in direction of the top of subsequent week, Deltic stated there might be a interval of detailed evaluation of wireline information, core samples, fluid samples and stress testing information which can additional refine the geological mannequin, volumetric estimates and the proposed growth plan.
Primarily based on the outcomes of the nicely and the info collected, Deltic believes that the three way partnership (JV) needs to be nicely positioned to progress in direction of subject growth planning and a remaining funding choice on a future growth with out requiring an extra appraisal nicely.
Along with Selene, Deltic will re-evaluate the Endymion prospect, situated on the northeastern nook of the block, which is one other low-risk Leman Sandstone alternative that may very well be tied into any future Selene growth.
Because the JV updates the event plan Deltic will re-assess its financial fashions. Pre-drill modelling signifies that volumes over 100 bcf recoverable will stay economically viable, and in the end produce materials optimistic money flows for the corporate, it stated.
Deltic CEO Andrew Nunn stated, “Subsurface experience lies on the coronary heart of the Deltic fairness story and stays central to the strategic method we just lately laid out for the Firm. On this context, the result of the Selene nicely is an effective outcome general and extends Deltic’s exploration success document to 2 from two. Though we’re predicting recoverable volumes on the decrease finish of pre-drill estimates, the improved high quality of the B-Sand and elevated useful resource focus ought to help an easier growth with enhanced economics attributable to diminished CAPEX and OPEX necessities”.
“We’re wanting ahead to partaking with Shell and Dana as we work by the customary post-well evaluation and preparation of a plan which can transfer the Selene discovery in direction of growth over the approaching 12 months. We proceed to imagine that the asset can create materials worth for our shareholders,” Nunn added.
Deltic has a 25 % working curiosity within the Selene license, situated within the coronary heart of the long-established Leman Sandstone gasoline play within the Southern North Sea.
To contact the writer, electronic mail rocky.teodoro@rigzone.com
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