Providence talks up Spanish point potential

Providence Resources has completed processing of 3D seismic acquired last summer over the Spanish Point gas/condensate discovery in Ireland’s offshore Porcupine basin.

Offshore staff

DUBLIN, Ireland -- Providence Resources has completed processing of 3D seismic acquired last summer over the Spanish Point gas/condensate discovery in Ireland’s offshore Porcupine basin.

The exercise has improved resolution of the Upper Jurassic hydrocarbon-bearing reservoir intervals, allowing direct mapping of some of these zones across the structure.

Data confirms previous interpretation of 2D surveys that Spanish Point comprises a large structural closure. Further hydrocarbon-bearing zones may be present above those tested by the 35/8-2 discovery well, which flowed around 1,800 boe/d from one of four logged hydrocarbon-bearing intervals.

New analysis has also revealed an undrilled section up to 750 ft (228 m) thick above the existing 1,400-ft (427-m) hydrocarbon-bearing section that may have further productive zones.

Last year’s 3D survey also covered the Burren 35/8-1 oil discovery in the same frontier exploration license (FEL 204). This well flowed 34º API crude from one of two logged hydrocarbon-bearing Lower Cretaceous sandstone intervals.

Providence has identified numerous laterally extensive seismic anomalies of similar age to Burren within the new survey area. It believes Burren may form part of a much larger stacked Lower Cretaceous oil-bearing reservoir system, with strong exploration and appraisal potential.

Mapping of the new data also confirmed the Wilde prospect, which has around 45 sq km (17.4 sq mi) of areal closure. Providence says the Upper Jurassic interval appears to be of equivalent age to the Callovian-Oxfordian zones that flowed 5,000 b/d of oil from the 26/28-1 well, 30 km (18.6 mi) to the north.

The company and its license partners Chrysaor and Sosina Exploration now plan to firm up final resource estimates for Spanish Point ahead of a possible appraisal drilling program.


07/13/2010

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