IOG Gets Blythe Hub Seismic Data
Independent Oil and Gas (IOG) has received initial results from new interpretations of 3D seismic data covering the Blythe Hub licences in the company’s Southern North Sea portfolio.
The data, which is being reinterpreted and comprises 250 km² of 3D seismic from the 1990s, has been reprocessed by Schlumberger WesternGeco to create a more consistent set of maps over the area, the company explained.
In addition, the company’s interpretation of the reprocessed data on Cronx suggests that the Gas-Initially-In-Place (GIIP) on Cronx is likely to be slightly lower than the estimates in the ERC Equipoise Competent Persons Report dated July 2012.
Following the interpretation, the board has chosen not to complete the acquisition of the Cronx licence, IOG noted.
A second phase of reinterpretation work is now being completed over the Harvey and Hambleton discoveries and the Truman prospect.
Mark Routh CEO of IOG said: “The seismic reprocessing studies completed so far have involved a great deal of hard work by the IOG team. Prior to this work the Cronx resources comprised less than 5% of our estimated recoverable 2P and 2C gas resources and it has now become less material. The reprocessing work completed to date has proved very helpful in enabling us to focus on the most value-adding assets and not completing on the acquisition of Cronx will be more than compensated for elsewhere in the portfolio.
“If, following completion of the seismic reprocessing work, we are able to conclude that there is greater materiality across fewer assets in the Blythe Hub, development costs should also be streamlined.”
