Searcher Seismic announced the completion of the Phase 2 southern extension to the Barrow Ultracube (project partner Fugro Multi Client Services) and the completion of the Canning TQ3D PSTM reprocessing project (project partner Geotrace). These two PSTM reprocessed 3D cubes are new additions to the ever expanding 3D seismic data library on offer at Searcher and bring the total Australian 3D data library to over 30,000 km2.
The Canning TQ3D PSTM reprocessed cube has illustrated significant uplift in seismic imaging as well as the reprocessing incorporating an additional 1 second of data for deeper exploration. The PSTM cube is currently being interpreted at ISIS Petroleum and is designed for rapid evaluation of the 2011 acreage release block W11-9, available now for licensing with estimated delivery date of mid November 2011.
The Ultracube concept which involves reprocessing multiple vintage 3D surveys from field tape into a regionally consistent high quality PSTM volume has been well received by the Australian market and is a flagship product for Searcher. The benefits of improved data quality combined with additional products such as angles stacks and gathers allows the data to be used both for regional studies and for new venture opportunities.
The Barrow Ultracube now in its third phase of expansion totals some 17,000 km2 and offers regionally consistent high quality data coverage over some of Australia's largest development projects such as Gorgon and Wheatstone as well as extended coverage over open acreage that is likely to be offered for bidding in future federal acreage releases. Linking these known discoveries to exploration areas is a key benefit of the Ultacube concept.
Following success from the Barrow project the Ultracube concept has recently been expanded to the Browse Basin with some 9,000 km2 currently undergoing reprocessing (Project Partner Fugro Multi Client Services).
The Ultracube projects are well supported by industry funding which has allowed Searcher to amass the largest non-exclusive 3D PSTM reprocessed database in Australia.
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