RE: jimmy28 Sep 2018 09:55
Barryroe news looks like Pvr will be drilling a deep well at Barry roe to test the Jurassic potential of the area. There is a good presentation by lansdowne on the regional source rocks in the Celtic sea at lansdowneoilandgas.com Celtic-Sea-Conference-Dublin-April-30-2014.pdf 7.49 MB It appears that deep Barry roe is mature for light oil from lower Jurassic source rocks. The seismic for Barry roe shows that there appears to be a large structure at the Jurassic level. The question is what reservoirs are present at that depth. The Helvick oil field on the northern side of the basin encountered 42 foot of Jurassic reservoir and combined with a limestone reservoir at that level flowed at 9901 bbl per day. So if those reservoirs are present in deep Barry roe then you are looking at very big reserves, potentially high flow rates, and such reservoirs could act as the basis for field development project finance . This is exploration. The wells to be drilled by pVr starting about six months are mostly appraisal wells in Barry roe, and investors should ask themselves what is the purpose and risks of those wells. There are already six wells drilled on the Barry roe oil field which proven the presence of the oil and its flow rate characteristics and established the oil water contacts in the field. All of which have been independently verified in a competent persons report. So why drill more and why was Barry roe not developed before this.? In my view, which I hold for a very long time, the problem relates to the fact that the Barry roe reservoirs are very thin and until recently were below seismic resolution, so the mapping of the reservoirs was previously performed by mapping the next deepest rock that could be identified on the seismic and this gave a good approximation of the location of the reservoir . Unfortunately such mapping was not detailed enough to identify very small faults, which if present could compartmentalise the field and make the placing of development wells difficult or near impossible . This problem was caused by a seismic signal called a multiple which was caused by the presence of a thick chalk section below the seabed. Fortunately new technology used by a company called seismic image processing has been able to remove the seismic multiple and the barryroe reservoirs have been mapped directly and the intra reservoir faults have been mapped for the first time. The calibration of the new seismic has used six wells drilled to date in Barry roe and the drilling of another five wells will provide a huge data base to calibrate the seismic for field development purposes. So these forthcoming wells are really pre development wells and not exploration as the field is already defined, and hence the risks are very low. In addition, direct mapping of reservoirs is essential for the purpose of drilling and directing horizontal production wells in a thin reservoir as you need to know precisely where to place the horizontal portion of the well. This
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