so, why should pantheon be so ****-a-hoop with their bff…13 Nov 2023 12:17
… when nextdoor to their southern boundary, 88e have recently announced their part of this reservoir as having, we might say, a 'modest', Gross Best Estimate (2C) Contingent Resource, of 136 million barrels as independently certified by Netherland, Sewell & Associates, Inc. (NSAI)
Well, bluntly put, NSAI assessed PANR's BFF at a 2C Best Estimate of 962.5 million barrels of recoverable hydrocarbon liquids.
And PANR management consider, as this estimate doesn't include the reservoir's improved characteristics in the recently acquired north west ‘chimney’ acreage, that the 2C estimate could actually be closer to 2 billion barrels.
To peek under the hood a little and begin to see why the big difference, we need to look at a few figures and maps from PANR’s Kodiak Field Presentation 14Sept23:
https://www.youtube.com/watch?v=aisVpzHLnbY#t=8m30s
At time 08:30 the map showing Pantheon’s acreage, complete with well positions and showing the milage distances when traversing the Basin Floor Fan reservoir.
Going from south east to north west, we pass from Pantheon’s Talitha-A well along approximately 10miles of reservoir to the Theta West-1 well, then continuing northwest another 10miles takes us into the 'chimney area' and to the north west extent of the BFF.
At time 09:00 the map includes the porosities for various locations of the BFF reservoir - higher porosities, more room for more oil in the rock.
On this map is also seen a proposed Theta West-A well located at the base of the ‘chimney’ acreage. And another ~5.3miles on into the ‘chimney’ sees the proposed Theta West-B well location.
On this map the 88e Hickory-1 well is located ~ 9miles south east of Talith-A – close to the ‘S’ in the wording: 'Scale=1:172126'
And at time 09:30 the map shows what % of the reservoir, at various locations, can be classified as conventional ie. greater than 0.1 millidarcys of permeability – the higher the permeability, the easier the oil flows through the rock to the wellbore.
From these two last maps we can see that the BFF reservoir characteristics of porosity and permiability improve when travelling north west and away from the south east locations of PANR's Talitha-A and the 88e Hickory-1 well.
DYOR
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