United Oil & Gas (UOG) has issued a technical update on the exploration potential of its Walton Morant license offshore Jamaica.
It follows the government’s recent confirmation of a two-year extension of the license until Jan. 31, 2028, giving UOG more time for the farm-out process.
Latest analysis suggests the license area may hold about 7 Bbbl of unrisked prospective resources, which could cost about $8.5/bbl to develop, if proven to be commercial.
Like the deepwater Stabroek offshore Guyana, Walton Morant’s subsurface features large structural traps with high-quality reservoir potential, UOG said. The 22,400-sq-km block at present contains more than 40 identified leads and prospects.
It also has two distinct geological basins. The Walton basin holds various large, high-impact prospects such as Colibri (406 MMbbl), Oriole (220 MMbbl) and Streamertail (221 MMbbl).
Notable structures identified in the Morant Basin include Thunderball (603 MMbbl) and Moonraker (323 MMbbl).
UOG’s work program, currently in the planning and permitting stage, is focused on further de-risking activities via, for example, piston core sampling to enhance reservoir understanding, and reprocessing existing seismic data to better delineate prospectivity across the license.
