No moveable hydrocarbons in Alaskan Winx-1 well

Published on 13-03-2019 10:34:45
Energy Insight: No moveable hydrocarbons in Alaskan Winx-1 well - 13032019 - Feature image

Initial wireline data points to low quantities of non-mobile oil in both the Nanushuk and Torok formations in Winx-1. The well, drilled by a consortium of independent companies (88 Energy, Red Emperor Resources, Otto Energy and Pantheon Resources )
was targeting the Nanushuk play fairway of Alaska’s North Slope and was looking to build on Repsol’s 2017 success at Horseshoe-1. The Repsol well is located four miles to the west of Winx-1 and had extended the Nanushuk play 20 miles to the south of the Pikka Unit.
Preliminary interpretation indicates that oil saturation and fluid mobility in the Nanushuk was negatively impacted by the presence of dispersed clay in the matrix. While this is a known characteristic elsewhere in the Nanushuk, Winx-1 did not benefit from the presence of further high quality oil saturated sandstones as typically seen in successful wells in the play.

The reservoir in the deeper Torok Channel Sequence was better quality than seen in the Nanushuk, however oil saturations were still too low for hydrocarbons to flow. The well has demonstrated the evidence of an active petroleum system and charge, but it is not clear at this stage if there is an effective trapping mechanism at this location. Winx-1 was targeting 400mmbbls in Nanushuk sequences where a similar amplitude response to that seen in Horseshoe-1 was present. The well was highlighted in our ‘Exploration Watch: 2019 exploration wells‘ report and is the first of these wells to be completed (see table). The key risk pre-drill was considered to be seal, as the prospect was relying on a pinch out on the clinoform edge to form an effective seal. While it is yet to be established if a seal is present, the overriding issue here is the lack of good quality reservoir at this location. The estimated gross dry hole cost for Winx-1 was $15m

Energy Insight: No moveable hydrocarbons in Alaskan Winx-1 well - 13032019 - image 1
Alaska North Slope map showing Nanushuk trend and Winx-1 location
Source: 88 Energy Ltd, Investor Presentation September 2018
 

Prospect
Region
Operator
Resource estimate*
Estimated spud 2019
Current status
Winx-1
Alaska
88 Energy
400mmbbl
February
Non moveable hydrocarbons
Presto
Norway
Equinor
160mmboe
February
Drilling
Blackrock
West of Shetland
Siccar Point
200mmbbl
Q2
Jethro
Guyana
Tullow Oil
>100mmbbl
May/June
2nd Orinduik prospect
Guyana
Tullow Oil
TBA
After Jethro
Warwick (x2)
West of Shetland
Hurricane Energy
935mmboe
Q2/Q3
Carapa
Guyana
Repsol
>200mmbbl
Q3
Chimera
North Sea
Cairn Energy
154mmboe
Q3
Block 7
Mexico
ENl
200mmboe
Q3
Alom
Mexico
Cairn Energy
140mmboe
Q3
Bitol
Mexico
Cairn Energy
180mmboe
Q3
Velociraptor/Fox
Mongolia
Petro Matad
201/206mmbbl
Q4

Source: Edison Investment Research, *Operator estimate where available
Winx-1 JV: 88 Energy (WI 36% and operator), Red Emperor Resources (31.5%), Otto Energy (22.5%) and Pantheon Resources (10%).

Share this with friends and colleagues