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Schlumberger Independent Assessment of Horse Hill Licence Area
The Board of
The tight Jurassic limestones and shales of the Kimmeridge Clay Formation in the Licence Area are calculated to contain a total OIP of 8.262 billion barrels, with the shales of the Oxford Clay and Lias Formations containing an aggregate OIP of 2.731 billion barrels, as shown in Table 1.
Table 1: Licence Area mean OIP estimates, millions of barrels ("MMBO")
|
Formation |
Mean OIP (MMBO) |
|
Kimmeridge Clay |
8,262 |
|
Oxford Clay |
1,017 |
|
Lias |
1,714 |
|
TOTAL |
10,993 |
Schlumberger acquired the Horse Hill-1 well ("HH-1") electric logs during the drilling of HH-1. This analysis builds on their previous petrophysical evaluation of HH-1, located in PEDL137 near to
It should be noted, as previously reported, that the HH-1 Upper Portland sandstone oil discovery is a geologically separate oil accumulation from, and additional to, the identified underlying Jurassic tight oil plays.
As previously stated by the Company, the above estimated OIP hydrocarbon volumes should not be construed as recoverable resources or reserves and also should not be construed in any way to reflect potential producibility of hydrocarbons from the formations evaluated. The Company would expect to report estimated recoverable resources following a successful well flow test, in order to comply with the standards of the
The report's findings will now be integrated into the planned flow test of HH-1 expected later this year, subject to approval by the
Additional internal and external technical studies are now well advanced in order to fully understand the possible implications of the report's key findings upon the hydrocarbon potential of the
"Schlumberger are the second globally recognised specialist company to have independently confirmed the significance of the tight oil Jurassic resource play in the
Future Plans:
In parallel with its subsurface and HH-1 flow test studies for the Portland sandstone and underlying tight Jurassic oil zones, related engineering and environmental studies have been commissioned to investigate a conceptual Weald Jurassic field development, with the prime objective that it must respect and preserve the rural beauty and way of life of the area, with minimal environmental impact, while at the same time providing a valuable contribution to the area's economy.
The Licence Area, comprising licences PEDL137 and PEDL246, is located on the northern side of the
For further information please contact:
David Lenigas /
James Caithie / Sandy Jamieson / Carolyn Sansom Tel: 020 7148 7900
Square 1 Consulting (Public Relations)
David Bick / Mark Longson Tel: 020 7929 5599
Glossary:
|
discovery |
a discovery is a petroleum accumulation for which one or several exploratory wells have established through testing, sampling and/or logging the existence of a significant quantity of potentially moveable hydrocarbons |
|
electric logs |
tools used within the wellbore to measure the rock and fluid properties of surrounding rock formations |
|
flow test |
a flow test or well test involves testing a well by flowing hydrocarbons to surface, typically through a test separator. Key measured parameters are oil and gas flow rates, downhole pressure and surface pressure. The overall objective is to identify the well's capacity to produce hydrocarbons at a commercial flow rate |
|
limestone |
a sedimentary rock predominantly composed of calcite (a crystalline mineral form of calcium carbonate) of organic, chemical or detrital origin. Minor amounts of dolomite, chert and clay are common in limestones. Chalk is a form of fine-grained limestone |
|
mean |
or expected value, is the probability-weighted average of all possible values and is a measure of the central tendency either of a probability distribution or of the random variable characterised by that distribution |
|
oil in place |
the quantity of oil or petroleum that is estimated to exist originally in naturally occurring accumulations before any extraction or production |
|
petrophysics |
the study of physical and chemical rock properties and their interactions with fluids utilising electric logs, physical rock and fluid measurements |
|
play |
a set of known or postulated oil and or gas accumulations sharing similar geologic, geographic, and temporal properties, such as source rock, migration pathways, timing, trapping mechanism, and hydrocarbon type |
|
recoverable resources |
those quantities of petroleum (oil in this case) estimated, as of a given date, to be potentially recoverable from known accumulations |
|
reserves |
those quantities of petroleum anticipated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions; reserves must further satisfy four criteria: they must be discovered, recoverable, commercial and remaining (as of the evaluation date) based on the development project(s) applied; reserves are further categorized in accordance with the level of certainty associated with the estimates and may be sub-classified based on project maturity and/or characterised by development and production status |
|
reservoir |
a subsurface rock formation containing an individual natural accumulation of moveable petroleum |
|
sandstone |
a clastic sedimentary rock whose grains are predominantly sand-sized. The term is commonly used to imply consolidated sand or a rock made of predominantly quartz sand |
|
shale |
a laminated and fissile very fine-grained sedimentary rock, consisting of compacted silt and clay-size mineral particles. Can contain high proportions of organic material, which if subjected to heat and pressure over geological time can generate petroleum (a petroleum source rock) |
|
tight oil play, or resource play |
a play where oil is found or expected to be present within a reservoir with low permeability, i.e. a tight reservoir. The term, in the case of HH-1, is applied to a play where trapped petroleum accumulations are expected to be pervasive throughout a large area and that are not significantly affected by hydrodynamic influences (also called "continuous-type deposits"). |
This information is provided by RNS