Trinidad flow rates due early Q23 Apr 2020 16:08
Recoverable resources within the AT-4 Block, which is the focus of the initial Pilot C02 EOR Project, are forecast to be 859,000 barrels for full-CO2 EOR. This represents a 12.3% recovery factor based on the former operator Texaco’s estimate of original oil in place. The AT-4 Block represents approximately 10% of the entire area of the Inniss-Trinity field.
Original oil in place estimates for the Inniss-Trinity field varies between 68 million barrels (Texaco 1973), 150 million barrels (Gaffney Cline CPR for FRAM Exploration Trinidad Ltd (“FRAM”) 2011) and 89 million barrels (SLR Consulting CPR for the Company 2018).
Assuming the AT-4 Block Pilot CO2 EOR were to be replicated throughout the field, management’s estimates of potentially recoverable resources for field-wide CO2 EOR range from 8.12 million barrels to 15.62 million barrels based on the more recent original oil in place estimates in the CPR’s.
Following initial results of the AT-4 Block Pilot CO2 EOR, including history matching production performance with the various estimates of oil in place, the Company will be in a better position to commission an updated independent CPR to address resources and to narrow down the currently wide range of estimates for oil in place that may be attributed historically to the exclusion of moderate quality reservoir intervals that may respond well to being swept by a C02 flood.