Irish oil and gas explorer Providence Resources reported Thursday that it is "dealing with a high productivity oil system" at its Barryroe discovery, offshore Ireland in the North Celtic Sea.
Providence said that well test analysis at Barryroe indicates a high-permeability basal oil-bearing reservoir interval, while the firm expects horizontal development wells to deliver "significant production rates".
Data acquired by Schlumberger during well-testing operations of the 48/24-10z Barryroe well was analyzed to find an average permeability of around 400 millidarcies, confirming high permeability. The analysis forecasts that a 1000-foot horizontal well could deliver around 12,500 barrels of oil per day and 11 million standard cubic feet of gas per day through a standard 4.5-ince outer diameter production tubing under natural lift.
"We had anticipated that we were dealing with a high productivity oil system both in terms of oil mobility and reservoir development," said Providence Technical Director John O'Sullivan in a statement on Thursday.
"These figures now confirm the magnitude of that productivity potential and clearly demonstrate that the Barryroe basal sands could potentially deliver oil at significantly higher production rates than was previously modeled. This obviously has an important effect on the forward development planning and potential production profiles and should serve to increase the project valuation. In addition, given that the seismic modeling is allowing us to directly map the reservoir interval from the 3D seismic data, we are now in a better position to plan for horizontal wells and benefit from their associated material incremental well production rates."
Providence is the operator of the Barryroe discovery and holds an 80-percent interest in it. Its partner Lansdowne Oil & Gas holds the other 20 percent.
Lansdowne CEO Steve Boldy also commented on Thursday: "The results of the Barryroe well test analysis are very encouraging, demonstrating that the Lower Cretaceous Basal Wealden sands have the potential to deliver at high flow rates. This is important not only for Barryroe, but for pursuing this play elsewhere in the North Celtic Sea Basin and in particular in Lansdowne's Amergin Prospect where the basal Wealden sands form one of the key target reservoirs."
Barryroe is just one project in Providence's current drilling campaign around the island of Ireland.
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