Verbier appraisal points to lower than expected resources

Published on 03-04-2019 10:24:57
Energy Insight - Verbier appraisal points to lower than expected resources - 03042019 - Feature image

UK independent Jersey Oil and Gas (JOG) has announced that the Verbier appraisal well, 20/05b-14, has not encountered the targeted Upper Jurassic sands as expected, resulting in a likely downward revision of resources to the low end of pre-drill estimates. The objective of the Equinor operated appraisal well was to refine the estimated resource volume range of 25 – 130mmboe, with a mid case of 69mmboe. Verbier sits 8km to the north west of the Buchan field (now decommissioned), and was discovered on pre-broadband 3D seismic.

In 2018 the JV acquired new 3D seismic across the P2170 licence area and into offset acreage in order to mitigate the reservoir presence risk at Verbier. The Upper Jurassic turbidite fan system at Verbier includes the J64 sand found in Buzzard, 55km to the south west . As in Buzzard , Verbier consists of sequences of sandstone reservoir geobodies and the seismic data should allow more accurate interpretation of these bodies together with any intra reservoir mudstone units that can act as barriers. Despite this, the appraisal well appears to have encountered either thinner or lower quality sands than prognosed, though the JV has not provided further details. JOG believes that Verbier remains commercially viable at 25 mmboe, and points to the large part of the mapped area of the Verbier discovery that remains untested.

P2170 JV: Equinor (70%), JOG (18%) and CIECO (12%).

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