OilVoice - Central North Sea Exploration Opportunities From EOG Resources

Central North Sea Exploration Opportunities From EOG Resources

Friday, January 08, 2010

EOG Resources UK Ltd is seeking a partner(s) to farm in to the following prospects.

UKCS Central North Sea Licence P.1616 Block 21/12b

Overview:
Block 21/12b contains an oil prospect at the Cromarty Sand level and is drill ready with a site survey and well planning complete. EOG are planning to drill the well in the 2nd or 3rd Quarter of 2010.

Prospect A, located within 21/12b, is a simple four way dip closed oil structure mapped at Cromarty sand level. The target Palaeocene sands are part of the Westerly derived fan system and have excellent reservoir properties in surrounding wells. Charge has been modelled using basin modelling software 'Trinity'; migration routes have been highlighted that indicate the structure should be filled. A nearby amplitude anomaly potentially within a younger soft sand analogous to the nearby Scolty discovery considerably de-risks the charge element of the prospect.

The prospect has 1,080 acres of closure with 145ft of maximum structural relief; and the lowest closing contour is 5,856 ft ss. The OIIP for prospect A is 50 MMBO with recoverable reserves of 18.5 MMBOE.

UKCS Central North Sea Licence P.1100 Blocks 20/4a and 20/9a Exploration/Appraisal

Overview:
EOG Resources invites offers to acquire an interest in Blocks 20/4a and 20/9a. This licence contains an appraisal opportunity following a successful well, 20/4a-8 drilled by Nexen in 2005.

Nexen have contracted a rig to drill the Ferret well in Q2 or Q3 of 2010. Well 20/4a-8 encountered 30ft of hydrocarbon bearing sand of "Buzzard" age: it had good porosity 22% and low water saturation. MDT samples from this well recovered 32 API oil. A downdip sidetrack 20/4a-8z identified the water leg to this accumulation, penetrating a similar reservoir thickness.

The Ferret well will target the eastern extent of the discovery made by the 20/4a-8 well. It is designed to penetrate a previously un-tested sand fairway within the same 3 way dip closed structure proved to contain hydrocarbons by the initial well. Most likely OIIP for the Ferret Appraisal well is 71MMBO, with reserves of 27MMBO.

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