Deltic Energy PLC materially increased the estimated volume of gas compared to previous estimates and increased the chance of success in the Selene prospect in the P2437 license area, UK Southern North Sea.
The improvements came from reprocessing existing 3D seismic and utilizing an innovative approach to depth conversion, the company said. The work was performed by a joint Deltic-Shell team after Shell farmed into the license in 2019. Further work was completed on the depositional environment, structural history, gas charge timing, and reservoir quality prediction.
Results from this technical analysis have increased P50 Selene gas initially in place (GIIP) by 44%, to 629 bcf from 437 bcf, while simultaneously improving the geological chance of success (GCoS) by 79%, the company said.
Further work will focus on potential development scenarios, estimation of recovery factors and project economics which are required to support the well investment decision prior to the proposed 2022 drilling activity.
Deltic is operator of the license with 50% interest. Shell holds the remaining 50%.