UK-based fractured basement reservoir explorer Hurricane Energy says a brand new competent particular person's report (CPR) throughout its Rona Ridge property has seen a rise in its reserves estimates – by 231%.

The report, by by RPS Energy Consultants, estimates greater than a billion barrels of useful resource within the Hurricane, Halifax and Lincoln fields and the untested Warwick prospect. The report doesn't embody the Lancaster subject, which is predicted to begin manufacturing in 1H 2019 through an early manufacturing system (EPS).

According to the report, Hurricane's whole 2P Reserves plus 2C Contingent Resources (not together with Lancaster) have elevated by about 231% to 2.6 billion boe. That consists of 1.three billion boe in Halifax, 540 million in Lincoln (each 2C contingent), and 935 MMboe Best Case (P50) potential sources in Warwick, with a 77% probability of being a discovery.

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Given the dimensions of a improvement to faucet these sources, all West of Shetland on the UK Continental Shelf, farm-in companions are prone to wait to see the outcomes of the EPS earlier than commiting in any improvement, says Hurricane.

Hurricane CEO Dr Robert Trice stated: “We are happy to now have impartial validation of our geological mannequin for the Rona Ridge basement play. The Lancaster EPS will go a great distance, along with different appraisal work, to narrowing reservoir useful resource ranges on our property on the Rona Ridge, following goal first manufacturing in H1 2019. In addition to offering vital money stream, the corporate believes profitable EPS will present a read-across to the manufacturing potential of all our basement property, materially de-risking Lancaster and the encircling fields at Lincoln, Halifax, Warwick and Whirlwind.”

Hurricane says that RPS concludes that Halifax has related reservoir properties to Lancaster and that the 2 fields could share a typical aquifer. A distinction in depth within the oil water contact between Lancaster and Halifax (of about 200m) could also be defined by a tilted oil water contact or the presence of intra basement sealing faults.

RPS additionally says Lincoln has related reservoir properties to Lancaster. Lincoln and Warwick could possibly be a single accumulation, however they’re being seen as separate buildings, at the very least till a nicely is drilled at Warwick. “Whether they’re separate buildings or show to be a single accumulation, Lincoln and Warwick (the “Greater Warwick Area”) are comparable in useful resource potential to Lancaster and Halifax (the “Greater Lancaster Area”) with a mixed, recoverable useful resource that would doubtlessly be within the order of 1.5 billion barrels of oil equal,” says Hurricane.

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Hurricane didn't embody the Licences P.1485 and P.1835, which comprise the Typhoon and Tempest prospects, within the report, because it intends to relinquish these licences.

Source: www.oedigital.com/

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