Providence Resources P.l.c., the London (AIM) and Dublin (ESM) quoted oil and gas exploration and production company, provides an operational update on its ongoing well operations in the North Celtic Sea Basin, offshore southern Ireland.
The 48/24-10z Barryroe appraisal well is located in c. 100 metre water depth, c. 50 kilometres offshore Ireland in Standard Exploration Licence (SEL) 1/11 in the North Celtic Sea Basin. Providence (80%) operates SEL 1/11 on behalf of its partner Lansdowne Oil & Gas plc (20%).
DRILLING ACTIVITIES SUCCESSFULLY COMPLETED
The 48/24-10z Barryroe appraisal well was drilled to a final total depth of 7,550‟ TVDSS and encountered the primary basal sandstone reservoir interval within the pre-drill depth prognosis. Reservoir development within this sand package is better than expected, with very good correlation of the overall sand packages with the offset 48/24-3 well.
EXTENSIVE FORMATION EVALUATION PROGRAMME CARRIED OUT
Indications of hydrocarbons were seen whilst drilling, and the subsequent results from wire-line logging have confirmed the presence of 41ft. of net pay (averaging 15% porosity and 87% hydrocarbon saturation), with no indication of a hydrocarbon water contact. Pressure data over this interval have revealed the presence of both oil and gas bearing zones, with the oil gradient being consistent to that of a light c. 40o API crude. A number of in-situ reservoir oil samples have been recovered and have been transported to the UK for further detailed laboratory analysis.
Preliminary pressure gradient analysis indicates that the basal sandstone could have the potential for an oil-water contact to be significantly down-dip from the current well location. It is notable that this basal sandstone package can be regionally correlated to the previous wells drilled on the Barryroe licence area, including the 48/23-1 well which was drilled by a previous operator some 20 kilometres to the west of the 48/24-10z well.
OPERATIONS FOR WELL FLOW TESTING HAVE NOW COMMENCED
With drilling operations now completed, and with all the wire-line logging data and side walls cores now in hand, the operations phase now moves to the well flow testing programme. The forward plan is to set a production liner, prior to flow testing the well over a number of days. The overall programme is expected to take up to c. 10 days to complete.
Commenting on the announcement, Mr. John O‟Sullivan, Technical Director said:
“The confirmation of high quality light oil within a porous and potentially laterally extensive sandstone system is extremely encouraging. The comprehensive newly acquired well data are already providing key insights into the hydrocarbon resource potential of this system. These sands, which appear to have an intact overlying pressure seal, sit directly on a proven mature and oil prone source rock and therefore open the route to significant resource volumes within the Barryoe licence area. We look forward to materially progressing the Barryroe project on foot of a successful outcome to our imminent well testing programme.”
[mappress] Subsea World News Staff , February 27, 2012; Image: Providence