Page 14 - LatAmOil Week 06 2020

LatAmOil
NEWS IN BRIEF
LatAmOil
Field analysis indicated liquids-rich gas with no hydrogen sulfide and no produced water. The well is expected to be shut-in for a two-week pressure build-up test, following which we antic- ipate completing and testing an additional 450 feet of identified pay.
Paul Baay, President and Chief Executive Officer, commented: “The Cascadura produc- tion test results represent a dramatic change for Touchstone, as it confirms the monumental resource potential of the Ortoire exploration block following the earlier success of our Coho-1 well. Furthermore, the test results are only attrib- utable to the lower most portion of the well, and with 450 feet of contiguous sand to be tested, the full potential of the structure is yet to be defined.
“To put these results in context, our average daily oil production for the three months ended September 30, 2019. was 1,729 bpd. The model- ling from the final test results at Coho-1 supports initial gross production rates between 10 to 12 Mcf per day per day (approximately 1,667-2,000 boepd), with Cascadura now set to provide a fur- ther step change. Given these results, the Com- pany will focus on multiple tie-in scenarios in order to maximise economic value. The Ortoire exploration block continues to consistently and dramatically outperform expectations and presents an exciting new opportunity for both Touchstone and the onshore oil and gas indus- try in Trinidad.”
James Shipka, Chief Operating Officer, commented: “The exceptional performance of the initial Cascadura test demonstrates the tre- mendous potential of the high-quality Herrera turbidites on the Ortoire block. The Coho and Cascadura discoveries have proven our turbidite model and indicate that the main sand fairway extends through a large portion of the Ortoire block. These discoveries provide further con- fidence as we move forward with two further exploration wells at our Chinook and Royston prospects which are targeting separate structures along the same geological trend.”
Touchstone Exploration, February 06 2020
SERVICES
Searcher Seismic
completes Offshore Peru
OpenSeis 2D and 3D
seismic datasets
Searcher Seismic has announced the completion of its Offshore Peru OpenSeis 2D & 3D Seismic Dataset as part of its Offshore Peru Multi-Client Campaign. The Offshore Peru OpenSeis Seis- mic Dataset consists of both 2D and 3D vintage
seismic data which has been rectified in a post- stack reprocessing method. The data package comprises of 44,389 km of 2D and 15,526 km2 of 3D seismic data along the coast of Peru.
Offshore Peru offers high impact, moderate risk exploration in shallow water, with high pro- spectivity in multiple, unexplored basins, sup- ported by Perupetro that is welcoming foreign investment.
The Offshore Peru OpenSeis Dataset is an invaluable tool providing the best value propo- sition for both preliminary and ongoing evalua- tions of regional prospectivity.
Searcher has applied its proprietary OpenSeis post-stack reprocessing method to the Peruvian database to rectify navigation, metadata, ampli- tude, phase and time to create a contiguous database that can be easily loaded into any inter- pretation software. The Offshore Peru OpenSeis dataset consists of 19 rectified and merged 2D seismic surveys and 21 rectified and merged 3D seismic surveys.
The regional Offshore Peru OpenSeis 2D and 3D aims to provide a much-improved, consist- ent, regional grid covering the offshore basins of Peru, with multiple vintages tying as many wells, leads and prospects as possible.
The rectified Offshore Peru OpenSeis 2D and 3D seismic data is also loaded and hosted on Searcher’s multi-client platform, SaismicTM, for consistent and instant online access for explorers.
SaismicTM is a transformative web-based platform that offers seismic Data as a Service (DaaS) with support for deep learning and advanced analytics. The Saismic GIS web por- tal has traditional functionalities of ingestion, online viewing and export to SEGY functions and offers a global collection of rectified open- file seismic data.
Offshore Peru already has a proven prolific oil play and prospectivity within multiple basins containing both thick reservoir seal pairs and a rich array of structural traps, yet offshore Peru remains dramatically under-explored. Hydro- carbon fields both on and offshore along the north coast in the Tumbes-Progreso and Talara extensional basins currently contribute over 1.8bn barrels of domestic oil production. To the south of these producing fields lie 5 additional offshore basins where little to no exploration activity has been undertaken to date.
With only 4 exploration wells, the Trujillo and Salaverry Basins have proven source and the Lobos-1 and Morsa North-1 exploration wells encountered significant oil shows during drilling.
Hydrocarbon samples recovered from nat- ural slicks on the sea surface demonstrate the existence and veracity of active petroleum systems within these basins. Numerous large undrilled structures in a variety of trap types
have been identified on legacy seismic data that has been recently rectified by Searcher.
The Lima and Pisco basins are interpreted as strike slip (pull-apart) basins with significant extensional horst and graben structures pres- ent. Geological and geophysical studies carried out on just under 50 samples collected for geo- chemical analysis indicate that the Carbonifer- ous Ambo Group is likely to be one of the main source rocks within these basins, with Eocene and Oligocene sandstones being proven reser- voirs onshore and therefore interpreted to be effective reservoirs offshore as well.
To the south, no exploration wells have been drilled to date in the Mollendo basin. This fron- tier basin comprises a long narrow forearc basin located mostly on the continental slope. Asphalt layers encountered onshore in Lower and Mid- dle Jurassic formations indicate the presence of potential source rocks which extend offshore. Even with limitations of the available offset information multiple leads have been identified on Searcher’s rectified seismic dataset, suggest- ing that the Mollendo Basin may yet prove to be the dark horse of Peruvian exploration.
Offshore Peru has proven hydrocarbon systems and strong evidence of significant untapped hydrocarbon potential. The Searcher rectified seismic is a consistent regional dataset that can be leveraged to gain a comprehensive understanding of the basins, geology, plays and ultimately build up a leads inventory within these basins, making the dataset an essential tool for unlocking the massive hydrocarbon potential of offshore Peru.
Searcher Seismic, February 10 2020
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Week 06 13•February•2020