Gulf Oil and Gas accountACCOUNT

Seismic Attribute Analysis Increases Confidence at Peregrine

Source: www.gulfoilandgas.com 9/23/2020, Location: Not categorized

88 Energy Limited is pleased to provide the following update related to Project Peregrine, on the North Slope of Alaska.

Highlights
Advanced seismic attribute work has identified several similarities between the key prospects at Project Peregrine and existing discovered fields nearby
Fluid factor at Merlin and Harrier Prospects analogous to that at the large Willow oil field north of 88E lease position
Farm-out discussions at Peregrine progressing well, on track for 1Q2021 drilling

Detail
In 2019, seismic reprocessing work was undertaken over 88Es Project Peregrine as well as on strategically selected regional 2D lines that extended into the Willow oil field to the north of the project area. This work indicated that the same shelf margins and geology extended from Willow south into 88Es acreage and analogous seismic signatures were evident at the discovered field and 88Es prospects. This was the basis for the mapping of the prospects and the independent resource estimate released in January 2020 and updated May 2020.

Subsequent to the reprocessing, amplitude vs offset studies (AVO) were also conducted and 88E has finalised its review of these products, with very encouraging results. The studies were calibrated to the existing Willow oil field to determine if similar attributes (in addition to those observed on the reprocessed seismic) could also be observed at the Project Peregrine prospects, Merlin and Harrier. The signatures observed, in particular for Fluid Factor, are very similar between the Willow oil field and the Merlin and Harrier prospects.

The dataroom for the Project Peregrine farm-out has now been open for several weeks, with multiple parties at various stages of technical due diligence, several of whom are now progressing to commercial discussions. 88E is targeting close of a deal prior to year-end 2020.

Permitting and planning work related to drilling of up to two wells at Project Peregrine, commencing 1Q2021, remains on schedule.

Managing Director of 88 Energy, Dave Wall, stated: "The recent AVO work is highly encouraging and provides additional confidence in both the Merlin and Harrier prospects. Additionally, both planning and farmout activity is progressing well towards the planned 1Q2021 spud date, now less than 6 months away.

This announcement has been authorised by the Board.

Seismic survey News in Australia >>

Nigeria >>  10/22/2020 - Shearwater GeoServices Holding AS is pleased to announce the award of a large 3D seismic acquisition and depth processing contract in the Europe, Afri...
Norway >>  10/19/2020 - Ocean Floor Geophysics Inc (OFG) and Electromagnetic Geoservices ASA (EMGS) have announced today the signing of a cooperation agreement under which th...

Australia >>  10/16/2020 - The recent Australian acreage release focuses heavily on the northwest shelf. PGS seismic data and studies provide excellent coverage for basin-scale ...
Nigeria >>  10/16/2020 - Polarcus Limited announces a letter of award has been received for 3D seismic data acquisition services in West Africa with an expected duration of tw...

United States >>  10/15/2020 - CGG has announced the start of a new seismic data reimaging program in the prospective Walker Ridge area, as part of a major reimaging campaign being ...
United Kingdom >>  10/13/2020 - Blue Ocean Seismic Services, the marine seismic survey disruptor, has secured a total of 10 million of Series A investment from a group of world-lead...




Australia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

Related Links

Gulf Oil and Gas
Copyright 2020 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.