Longboat Energy announced in a press release a minor find in the Velocette exploration well (PL1016) in Norway.
Exploration well 6607/3-1 S found hydrocarbons in the primary target in Cretaceous turbidite sands in the Nise Formation on the eastern flank of the Utgard High in the Norwegian Sea, the company revealed. The prospect had been identified following recent seismic reprocessing and benefits from seismic amplitude anomalies indicative of gas-filled sands, Longboat explains on his site.
The top of the reservoir was reached near forecast at a vertical depth of 3,348 meters (10,985 ft) below sea level with 61 meters (200 ft) of high-quality clean to dirty sandstone, moderate to very good, said Longboat. Data acquisition indicates a gas column of approximately nine meters (30 feet) in the well, according to the company.
As Velocette volumes are at the lower end of pre-drill expectations, the discovery is not considered commercial in isolation. However, the license contains numerous other prospects that have been jeopardized by the presence of gas in a good-quality reservoir in the Velocette well, Longboat said.
Longboat added that the remaining prospect has significant size potential in multiple structures and with slightly different trap geometries. Further evaluation of the prospectivity of the license along with other opportunities in the area could affect the commercial potential of the license, Longboat disclosed.
High-quality data and gas and fluid samples were collected in the exploration well and will be integrated into updated prospect evaluations, the company noted. PL1016 is at a distance from the operated Equinor, producing Aasta Hansteen field (~28 miles).
The well will now be capped and abandoned as planned. The licensing partnership consists of Longboat JAPEX Norge (20%), OMV Norge (40%) and INPEX Idemitsu Norge (40%).
“Although we are disappointed not to have made a commercial discovery at Velocette, the presence of a good quality sandstone reservoir, which was the main risk before drilling, and the presence of gas is encouraging,” Helge Hammer, chief executive of Longboat Energy. said
“There is significant follow-on potential that has been eliminated with this result and we will work with our joint venture partners to further mature these opportunities,” Hammer added.
To contact the author, please email andreson.n.paul@gmail.com
