News listings

energy-pedia exploration

Jamaica flagJamaica

South America / GoM >>> Jamaica

Jamaica: United Oil & Gas announces completion of 3D seismic acquisition on Tullow-operated Walton-Morant licence, offshore Jamaica


14 May 2018

Photo - see caption

Highlights

  • First 3D seismic survey in Jamaica completed over Walton-Morant licence ahead of schedule
  • Focused on de-risking multiple structures to drill-ready status including Colibri, a high grade target estimated to hold gross mean prospective resources of over 200mmbbls
  • Fast-tracked data expected mid-July 2018 with the final data-sets due later in the year

United Oil & Gas has announced the completion of a 2,250 sq km 3D seismic acquisition survey over the Walton-Morant licence, offshore Jamaica, which includes the high-graded Colibri target. United holds a 20% equity interest in the 32,065 sq km Walton-Morant licence, with the remainder held by the operator, Tullow Jamaica, a wholly owned subsidiary of Tullow Oil.

The 3D seismic survey, the first in Jamaica, was completed safely, under-budget, approximately a week ahead of schedule by the Polarcus Adira vessel. The survey is centred on de-risking a number of highly prospective Cretaceous and Tertiary aged clastic and carbonate reservoir targets that have previously been mapped by Tullow on reprocessed and reinterpreted 2D seismic data. As mentioned these include the Colibri target, which has been estimated to hold gross unrisked mean-case prospective resources of over 200MMstb. The technical case for Colibri is further strengthened by the recent identification of an active thermogenically derived offshore oil seep to the south of the structure.

The Company expects to receive a fast-tracked version of the data by mid-July 2018 with the final processed data-sets due to be available later in the year. Subject to the results, an exploration well could be drilled in 2020-2021, with success significantly de-risking numerous follow-up structures that have already been identified across the Licence.

Photo - see caption
Walton Morant Licence, offshore Jamaica (Source: United Oil & Gas)

United CEO, Brian Larkin, said:

'With prospective resources of over 200mmbbl estimated for the Colibri target alone and with multiple copycat structures already identified, Walton-Morant has clear potential to be transformative for United. The completed 3D seismic survey is key to de-risking Colibri and other structures to the point where they are drill ready. We are highly encouraged that the survey has been completed ahead of schedule and we now look forward to receiving the fast-tracked data set in Q2 2018.

'Walton-Morant is just one of a number of projects within United's growing portfolio of exploration and development projects. While offshore Jamaica is a high impact exploration opportunity, the recently drilled Podere Maiar gas well in the Po Valley region of Italy and the UK near shore Colter Discovery, which lies in the same play as the prolific Wytch Farm field, are low risk development opportunities. With work underway to bring the Podere Maiar well into production, appraisal drilling on the Colter structure on course to commence in H2 2018, and the 3D seismic survey now completed in Jamaica, we are delivering on our objective to expose our shareholders to a diverse series of value trigger events. This is an exciting period for United and I look forward to providing further updates on our progress.'

Further Information on Walton-Morant Licence

The large 32,065 sq km Walton-Morant Licence, offshore Jamaica, is exposed to a number of different plays across three geological basins including the Walton and Morant Basins. To date, only 11 wells have been drilled across the whole of Jamaica's onshore and offshore, and despite challenges with well placement due to a lack of seismic control, 10 of these encountered hydrocarbon shows. Oil-prone source rocks have been identified in the Eocene and in the Cretaceous, with migrant oil identified in onshore wells and outcrop samples. This provides good evidence of the presence of regional source rocks.

Recent work, including extensive onshore fieldwork, has confirmed the presence of all the elements required for a working petroleum system, and has also identified a thermogenically derived offshore oil seep close to Colibri, the main prospect of interest, providing further confidence that there is the potential to find significant commercial volumes within the Licence. Colibri has been high graded on the basis of its position in relation to migration routes out of an identified Eocene kitchen.

Tullow entered the Walton-Morant licence in November 2014. In addition to securing a large portfolio of legacy 2D seismic data, Tullow also acquired a further 3,650 km of 2D seismic in 2016 and 2017. Interpretation of the data set has identified attractive Cretaceous and Tertiary aged clastic and carbonate reservoir targets. The 3D seismic survey is designed to further de-risk these targets, specifically the high-graded Colibri lead.

Original article link

Source: United Oil & Gas





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 373

Completed Deals

Completed Upstream Deals: 5961

Company Profiles

Current Company Profiles: 2745

Corporate Activity

Current Corporate Activity articles: 3564

Companies Looking

Current number of articles: 444

Company Sales

Current Company Sales articles:1443

Geostudies

Current Geostudies articles: 766

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

OPC
Bayphase
Rose & Assocs 149
SLR Consulting logo
KL Publishing
Union Jack Oil 149
energy365
Government of South Australia
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com