23rd Oct 2018 12:36
LONDON (Alliance News) - 88 Energy Ltd said 3D seismic inversion is substantially complete for both shallow and deep horizons at its Icewine oil & gas project in Alaska.
88 Energy acquired the Icewine 3D seismic data in the first 2018 quarter and is in the final phase of processing. Interpretation of the inversion product is, according to 88 Energy, mostly complete.
Seismic inversion uses data to produce a description of the rock properties of a reservoir. In the case of Icewine, seismic inversion has been integrated into the mapping of the project and used predict where best reservoir quality is like to be found in the topset and basin floor fan horizons.
The topset horizon, also known as Schrader, and the basin floor horizon, known as Torok, have both been penetrated by historic wells, in keeping with many of the mapped prospects.
Reservoir quality has been named as a concern at Icewine, particularly in deeper formations, but 88 Energy said potential for a productive reservoir has been identified within Schrader and Torok.
The mean total prospective oil resource at Icewine is now an estimated 2.90 billion barrels, of which the net mean to 88 Energy is 2.21 billion.
"The evolution of the conventional portfolio continues to result in positive revisions to the already large potential identified. Additionally, the dataset is becoming more robust with each completed phase of processing and interpretation, which bodes well for the ongoing farm-out process," said 88 Energy managing Director Dave Wall.
Shares in 88 Energy were flat at 1.00 pence on Tuesday.
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