The company hopes the delineation campaign will prove in-place reserves of more than 600 MMbbl.
Well and fluid data from last year’s Serenity 13/23c-10 discovery well revealed sweet, 31.5° API crude in 11 ft (3.3 m) of upper Captain oil-bearing sands, with a measured oil column, based on pressure data, of 604 ft (184 m) TVD.
If Serenity and the nearby Tain oil field are in communication, this would indicate an oil column height of 1,124 ft (342 m) TVD, i3 said, with in-place resources for Serenity of 197 MMbbl.
Reservoir model simulations indicate a potential recovery rate of more than 60%.
Though last year’s Liberator appraisal wells 13/23c-9 and 13/23c-11 did not meet expectations, the latter well confirmed a migration path for hydrocarbons to move west toward the Minos High where the upper Captain sands package could have a thickness of around 200 ft (61 m) TVT above the oil-water contact.
Post-drill mapping of the entire Liberator structure suggests in-place oil of more than 400 MMbbl.
Preparations have started for this year’s wells with a farm-down process also under way on i3’s licenses to potentially fund the campaign.