Seismic Study, Evaluation Report Indicates Prospectivity in Offshore Guyana’s Orinduik Block
Drilling Activity Details
Drilling Activity Summary
Description
Eco Atlantic Oil & Gas, based in Toronto, has received results from 3-D seismic processing survey in the offshore Guyana Orinduik Block. It is a supplement to a report delivered in September 2018. The survey and resulting processing covered 2,550 sq km including the regional Tertiary-aged discoveries, including ExxonMobil's Hammerhead discovery. The company and its partners (Tullow - 60% and operator, Total - 25%, Eco - 15%) have completed a further extensive evaluation and risking exercise on the leads and targets on the Orinduik Block and have updated the previous P50 best estimate of gross unrisked prospective resources within the block. The updated report estimates an increase in gross unrisked prospective resources P50 (best) to 3.98 Bboe on the block, with a net (15%) 597.3 MMboe to Eco, identified across a total of 15 leads. The first drill target is scheduled at the Jethro prospect, which is estimated to contain 214.5 MMboe (P50) at 43.2% chance of success. The partners are in the process of approving a second well.
Eco Atlantic Oil & Gas, based in Toronto, has received results from 3-D seismic processing survey in the offshore Guyana Orinduik Block. It is a supplement to a report delivered in September 2018. The survey and resulting processing covered 2,550 sq km including the regional Tertiary-aged discoveries, including ExxonMobil's Hammerhead discovery. The company and its partners (Tullow - 60% and operator, Total - 25%, Eco - 15%) have completed a further extensive evaluation and risking exercise on the leads and targets on the Orinduik Block and have updated the previous P50 best estimate of gross unrisked prospective resources within the block. The updated report estimates an increase in gross unrisked prospective resources P50 (best) to 3.98 Bboe on the block, with a net (15%) 597.3 MMboe to Eco, identified across a total of 15 leads. The first drill target is scheduled at the Jethro prospect, which is estimated to contain 214.5 MMboe (P50) at 43.2% chance of success. The partners are in the process of approving a second well.