Deltic doubles resource estimate for North Sea Pensacola discovery
Offshore staff
LONDON — Deltic Energy has upped its estimate of oil and gas resources for the Shell-operated Pensacola discovery on license P2252 in the UK southern North Sea, based on post-well analysis, including laboratory testing.
The company, which has a 30% interest in the license, now assesses P50 in place volumes of gas and oil at 342 MMboe of which about 99 MMboe could be recoverable. And it appears that the oil could account for 30% of the resource.
The partners are progressing plans for appraisal and development, with an appraisal well targeted for late 2024.
Deltic CEO Graham Swindells said, “Well data indicates that Pensacola contains close to double our original estimate, representing one of the most significant discoveries in the North Sea in many years."
While the expected presence of oil in the south of the prospect provides material upside, the gas volumes in the northern part appear better constrained so the gas will likely be the focus of near-term appraisal activity.
Thicker and better quality Hauptdolomite reservoir appears to be present across the crest of the Pensacola Reef, the likely target of appraisal and development drilling.
Dynamic reservoir modeling indicates commercial flow rates could be achieved from horizontal wells.
07.12.2023
