A report for Tullow Oil from updated 3-D seismic data by ERC Equipoise Ltd. indicates that the offshore Jamaica Walton-Morant license gross, unrisked mean oil prospective resource is 229 MMboe, an increase of about 10 MMbbl. The survey covered 2,250 sq km (869 sq miles) of recent 3-D seismic data at the Colibri prospect to de-risk highly prospective Cretaceous and Tertiary-aged clastic and carbonate reservoir targets, including Colibri, that have been mapped by Tullow on 2-D seismic
Europa Oil & Gas has identified a new prospect in offshore Block LO16/20 in the Slyne Basin that includes the company’s Inishkea Prospect. The Inishkea Prospect is adjacent to the producing Corrib gas field in the Corrib Field petroleum lease area. According to a report, the Inishkea gross, mean, unrisked prospective gas resources are approximately 42.4 Bcm (1.5 Tcf). Site surveying is planned for mid-2019 and includes an exploratory well. Farm-in negotiations are being conducted for three of Europa’s offshore Ireland licenses, including LO16/20 and its Inishkea Prospect.
An offshore U.K. Colter Prospect appraisal well, 98/11a-6, was drilled by Corallian Energy Ltd., and it encountered a 9.4-m (30.8-ft) reservoir interval in the Sherwood Sandstone. The well is an appraisal of 98/11-3, which was originally completed in 1986 within the Colter Prospect. The 98/11a-6 well was drilled to 1,870 m (6,135 ft) on the southern side of the Colter Prospect bounding fault, and it encountered oil and gas at the top of the reservoir. A petrophysical evaluation of LWD data has calculated a net pay of 3 m (10 ft), and similar indications of oil and gas were encountered in the 98/11-1 well within the Colter South fault terrace. Analysis of the new data indicates that the two wells may share a common oil-water contact in the downdip margin of the Colter South prospect. Corallian’s most recent assessment of the Colter South Prospect prior to drilling appraisal had estimated a mean recoverable volume of 15 MMbbl. A sidetrack to 98/11a-6 is planned and will be drilled directionally to a Sherwood Sandstone target within the Colter prospect on the northern side of the bounding fault.
Azinor Catalyst Ltd. has reported an oil discovery at its Agar-Plantain exploration well, 9/14a-17B, in the U.K. sector of the North Sea in Block 9/14a in license P1763. The well and associated sidetrack well delineated the eastern extent of the hydrocarbon discovery. The sidetrack well encountered a 20-m (66-ft) interval of high-quality, oil-bearing sands with no oil-water contact. The original discovery well in the block, 9/14a-15A, encountered a 10-m (33-ft) Eocene Agar zone in high-quality Eocene Frigg sands. Reservoir oil samples have now been recovered to surface, and further analysis will be required to define the recoverable resources. The current recoverable resource estimate is between 15 MMboe and 50 MMboe, The 9/14a-17B well is in the process of being plugged and abandoned.
Faroe Petroleum has announced the results of the Rungne exploration well 30/6-30 in the Norwegian North Sea. The 3,469-m (11381-ft) well hit a 56-m (184-ft) gross gas/condensate column in the interbedded Middle Jurassic Ness sandstones and 86 m (282 ft) of gross water-bearing reservoir in the primary Oseberg target. No hydrocarbon contact was encountered within Ness. According to the company, the preliminary gas and condensate recoverable volume range for the discovery in the Ness Formation is estimated to be 2.7 MMboe and 17 MMboe, and it is unlikely to be commercial in isolation.
Eni announced an oil discovery offshore Angola in Block 15/06 at the Agogo exploration prospect. The Agogo-1 NFW encountered a 203-m (666-ft) oil column with 120 m (394-ft) of net pay and 31-degree-gravity oil in subsalt diapirs in Lower Miocene sandstones. The IP capacity was about 20,000 bbl/d of oil. Based on current estimates, the find could hold 450 MMbbl to 650 MMbbl of oil. The well was drilled to 4,450 m (14,600 ft) and is in 1,636 m (5,367 ft) of water. The Agogo-1 NFW is the third commercial discovery on the block.
Exxon Mobil announced an offshore Cyprus gas discovery at the Glaucus-1 well, which is in Block 10. It hit a gas-bearing reservoir of about 133 m (436 ft) and was drilled to 4,200 m (13,780 ft) in 2,063 m (6,769 ft) of water. Preliminary interpretation of the well data indicates the discovery has an estimated in-place gas resource of 141.5 Bcm to 226.5 Bcm (5 Tcf to 8 Tcf). Additional analysis and testing are planned. The Glaucus-1 well was the second of a two-well drilling program in Block 10. The first well, Delphyne-1, did not encounter commercial quantities of hydrocarbons.
Oil and Natural Gas Corp. has reported two offshore gas discoveries in the Arabian Sea. The GKS091NFA-1 well was drilled in Block GK-OSN-2009/1 in the Kutch offshore region. According to the company, result suggests the play could extend across a large area. Another well in the Western Offshore Basin, B-203-2, flowed 783 bbl of oil and 78,579 cu. m/d (2.775 MMcf/d) of gas from an interval within an early Oligocene Mukta Sandstone. A limestone interval in the Heera Formation also flowed oil and gas. The discovery confirmed a westward extension of the WO-4 plays in the downdip direction.
PTTEP Exploration & Production has found commercially proven gas reserves in Block M9 in the Zawtika Project offshore Myanmar’s Mottama Gulf. According to the company, the Zawtika-24 well successfully proved commercial hydrocarbon reserves with 152 m (499 ft) of net gas sands, more than the expected 41 m (134.5 ft), with the latest discovery to prolong Zawtika’s gas production.
Santos Ltd. will drill an offshore Australia exploration well, Roc South 1, in the WA-437-P Permit. The well will be drilled after the nearby Dorado-2 appraisal well is completed. According to the company, Roc South has a similar geological trap structure to Dorado, and Dorado is situated updip of the Roc structure. The joint venture partners are Carnarvon Petroleum (20%) and Santos (80%).
PTTEP Exploration & Production announced a gas and condensate discovery at the Orchid-1 well, the fi rst exploration well in Permit AC/P54 in the Timor Sea offshore Australia. The well was drilled to 2,925 m (9,596 ft) and encountered gas and condensate with a net pay thickness of approximately 34 m (111.5 ft). The discovery will be incorporated into development planning of the Cash-Maple Field, which contains an estimated resource of 99.1 Bcm (3.5 Tcf) of gas.
U.S. Energy Secretary Jennifer Granholm also said she had been assured Mexico is committed to supporting clean energy and working out current disputes with projects within the rule of law.
Geopolitics continue to be supportive of oil prices for the week ahead as tensions between Russia and the U.S. and NATO allies remain elevated, Stratas Advisors said in its weekly price forecast.
Europe relies on Russia for around 35% of its gas and is also a major consumer of Russian oil coming both via pipelines and sea ports.