Infinity Energy Resources Inc., Overland Park, Kan., has let a contract to CGG to shoot and process 2D and 3D seismic on Infinity’s oil and gas concessions in the Caribbean offshore Nicaragua.
CGG will collect 1,050 line-km of 2D and 500 sq km of 3D seismic focused on at least two high-potential prospects that Infinity has identified along the Nica-Tinkham ridge on its Tyra and Perlas concessions that total 1.4 million acres.
Infinity noted that its blocks are west of and adjacent to 1.8 million acres of concessions held by Noble Energy Inc. and that results of Noble Energy exploratory well are expected by yearend.
The CGG vessel is to arrive and begin mapping by the end of November, and processing and interpretation of initial seismic data should be completed and available for review in first-quarter 2014, Infinity said.
“Depending on the results of the seismic mapping conducted by CGG, the conclusions derived from the processing of such data, and the availability of sufficient capital, Infinity could schedule the drilling of an initial exploratory well sometime during the second half of 2014,” the operator said.
Infinity said its obligations under the agreement with CGG are payable over the next few months and that it is considering a number of funding proposals from industry and financial partners.