An independent assessment has identified two drilling prospects with a cumulative 325.3 million bbl of oil potential onshore Alaska’s North Slope in Rampart Energy Ltd.’s Western block.
Joint-venture partner Royale Energy Inc. announced its survey in March, which covered more than 100 sq miles (OGJ Online, Mar. 6, 2014). The JV’s 100,000 acres are situated within the peak oil generating and volatiles windows of the Shublik and Lower Kingak shales.
Netherland, Sewell & Associates Inc. (NSAI) performed the interpretation of the two prospects identified in the “Big Bend” 3D seismic data. According to Rampart, additional prospects exist and are subject to ongoing seismic interpretation and analysis, including amplitude vs. offset (AVO) studies. With the completion of this work, the company plans to undertake a full prospect inventory.
NSAI estimated total undiscovered stock tank original oil in place for the two Western block prospects within a range from 325.3 million bbl (high case) to 17.8 million bbl (low case). The Rosetta prospect is the largest feature within the joint venture’s acreage and is the current lead candidate for drilling. The prospect extends over a large area and exhibits similar characteristics to nearby oil discoveries including direct hydrocarbon indicators such as anomalous seismic amplitudes, flat spots, and AVO anomalies.
Rampart holds a 30% share of Western block resources, but has an option to increase its working interest to 75% by funding drilling of the two exploration wells planned for early 2015.