By OGJ editors
HOUSTON, June 29 – Consulting engineers have estimated a resource in the Macasty shale on Anticosti Island, Que., in the Gulf of St. Lawrence at 19.8 billion to 48.2 billion bbl of oil in place, said Petrolia, Rimouski, Que.
The best estimate is 30.9 billion boe in place. The figures apply to more than 1.5 million acres in which Petrolia holds interests on the island.
Petrolia noted that the Macasty core from the Chaloupe well drilled in 2010 contained residual oil. This well is located on the high side of the Jupiter fault, where most of the Petrolia acreage is located, and where the shale is interpreted to have been within the oil window and to be oil prone.
The Macasty shale is equivalent to the Utica shale of the St. Lawrence Lowlands, which has produced oil and gas on test, and core analysis indicates that the Macasty rock has similar petrophysical and geochemical characteristics to analogous fields found in the northeast US.
Petrolia noted that while the Macasty shale has not been tested on Anticosti Island, it is a prolific source rock that has not exceeded the oil generation window on roughly three fourths of the island. Its resources are inferred to exist based on the interpretation and mapping of limited pyrolysis, petrophysical, and seismic data.
The value in conducting the assessment lies purely in its use as a basis for determining whether it appears worthwhile for the company to conduct further investigation. From Petrolia’s perspective, the Macasty assessment shows the large upside potential. Further drilling and testing are needed to prove commercial value, if any, from the assets.