Big Bird – a 3d seismic task – has actually assisted open a set of main North Sea expedition targets for minnow Finder Energy (ASX: FDR) and Dana Petroleum.
The Australia-noted company said the brand-new information has actually de-risked a variety of opportunities in its P2530 licence, which sits close-by to the Kittiwake, Goosander and Grouse fields.
P2530 is owned 60% by Finder, partnered with Dana Petroleum, which farmed in to 40% in 2015.
Finder Energy said that amongst the leading products is appraisal of the Wagtail oil discovery, and recognition of 2 low-risk potential customers: Marsh and Bancroft.
Another 4 potential customers were likewise determined, it said.
The information task has actually examined appraisal capacity of 19 million barrels (gross 2C) of resource at Wagtail, with a 57% opportunity of success.
Bancroft and Marsh have gross mean potential resources of 32 million and 23 million barrels respectively, with Bancroft at a 42% CoS and Marsh at 40%.
Finder said it will quickly be releasing a farm-out procedure to secure a partner to discover drilling activity.
© Supplied by Finder EnergyHaving finished Phase A of the licence, Finder and Dana will quickly decide to participate in the next two-year duration, with a drill or drop choice in Q3 2025.
The licence becomes part of Finder’s infrastructure-led expedition method, it said, with the targets within P2530 liing within tie-back range of existing facilities.
As well as Kittiwake, which is closest, the licence sits close-by to the Forties, Nelson, Montrose, Gannett and Anasuria properties.
Finder Energy handling director Damon Neaves said: “The Big Bird 3D reprocessing task has actually de-risked a variety of opportunities in P2530, varying from appraisal of the Wagtail oil discovery to low-risk expedition potential customers like Bancroft and Marsh. This is an example of the worth.
“Finder’s industry-leading subsurface team creates through the use of high-end seismic technologies to reveal structures previously hidden from sight.”
Big Bird is a 730 square-kilometre seismic reprocessing task from Searcher Seismic, revealed in 2015, in addition to the comparable “Big Buzz” task of 1,568 square kilometres.
The 2 have actually examined advancements around the Buzzard oilfield, within tie-back ranges to the Kittiwake and Forties field advancements.
Other potential customers discovered within P2530 are Turner, Tye, gar and Stoinis – CoS of 20% or less – with combined gross resources of 95m barrels on a p50 (finest quote) basis.
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