Providence Resources (LON:PVR), the E&P company currently drilling offshore southern Ireland, has confirmed that its eagerly anticipated Barryroe appraisal well has provided “extremely encouraging” high quality light oil within a porous and potentially laterally extensive sandstone system.
Operations at the well site are currently ongoing and Providence is now carrying out a well test.
The 48/24-10z Barryroe appraisal well lies 100 metres of water, 50km offshore Ireland in Standard Exploration Licence 1/11 in the North Celtic Sea Basin. Providence holds an 80% interest and operatorship of the licence, with the balance held by its partner Lansdowne Oil & Gas (LON:LOGP).
The well was drilled to a final total depth of 7,550 ft and encountered the primary basal sandstone reservoir interval within the pre-drill depth prognosis. Providence said that reservoir development within this sand package was better than expected, with very good correlation of the overall sand packages with the offset 48/24-3 well.
Indications of hydrocarbons were seen whilst drilling, and the subsequent results from wire-line logging confirmed the presence of 41ft of net pay (averaging 15% porosity and 87% hydrocarbon saturation), with no indication of a hydrocarbon water contact.
Pressure data over this interval has revealed the presence of both oil and gas bearing zones, with the oil gradient being consistent to that of a light c. 40o API crude. A number of in-situ reservoir oil samples have been recovered and have been transported to the UK for further detailed laboratory analysis.
Providence noted that preliminary pressure gradient analysis indicated that the basal sandstone could have the potential for an oil-water contact to be significantly down-dip from the current well location. It said it was is notable that this basal sandstone package could be regionally correlated to previous wells drilled on the Barryroe licence area, including the 48/23-1 well which was drilled by a previous operator some 20km to the west of the 48/24-10z well.
With drilling operations now completed, and with all the wire-line logging data and side walls cores now in hand, the operations phase now moves to the well flow testing programme. Providence’s forward plan is to set a production liner, prior to flow testing the well over a number of days.
John O’Sullivan, Providence’s technical director, said: “The confirmation of high quality light oil within a porous and potentially laterally extensive sandstone system is extremely encouraging. The comprehensive newly acquired well data are already providing key insights into the hydrocarbon resource potential of this system. These sands, which appear to have an intact overlying pressure seal, sit directly on a proven mature and oil prone source rock and therefore open the route to significant resource volumes within the Barryoe licence area. We look forward to materially progressing the Barryroe project on foot of a successful outcome to our imminent well testing programme.”
