Xcite upbeat on Bentley

Xcite Energy has issued the results of re-interpreted 3D seismic over its heavy oil Bentley field in UK North Sea block 9/3b.

Offshore staff

ABERDEEN – Xcite Energy has issued the results of re-interpreted 3D seismic over its heavy oil Bentley field in UK North Sea block 9/3b. The data was acquired in 1998, but re-processed last year using up-to-date techniques.

The company now estimates recoverable resources, accessible from a single production platform in the center of the field, in the range 80-166 MMbbl.

Adding a drill center to the south would provide access to further reserves estimated at 29-54 MMbbl recoverable, with a 40 MMbbl base case.

These results are similar to those outlined earlier this year in a Competent Persons Report (CPR) from consultants RPS Energy. However, XCite says its latest evaluation shows that the field extends to the south and east of the area reviewed in the CPR.

The extension encompasses Bentley East, previously considered a separate structure and referred to as Prospect A in the CPR. XCite believes this new finding justifies the southern drill center to access resources in the area.

XCite’s CEO Richard Smith says the latest review has confirmed Bentley as one of the largest undeveloped fields in the UK North Sea.

Remaining issues, following drilling and testing of well 9/3b-5, include the need to establish the field’s commercial flow rates. These are currently predicted from modelling supported by the well flow rates in StatoilHydro’s analogous Bressay field 6 km (3.7 mi) to the northwest.

06/23/2009

More in Drilling & Completion