Current Opportunities

 

The DeLorean Complex

 

Farm-in Opportunity to Blocks 30/22 & 23a in Central North Sea with potential for >130mmbo adjacent to existing fields and designed to be profitable at today’s low oil price.
 
  1. The DeLorean Complex is comprised of four drill-ready prospects – recoverable resource 96-130 MMBo of light gravity oil (38 API).
  2. Proven Innovative Development Plan used on the Argyll field reduces Opex to $8.50 per barrel and Capex reduction of 85% vs. conventional FPSO development schemes.
  3. Robust Economics, Prospect A (20 MMB) within the DeLorean Complex is expected to generate an after-tax IRR of 102% and NPV (10%) of $180 million at Brent $40 (Fixed) with total project payout with 14 months of first production.
  4. Independent audit by engineering firm confirms resource estimates of the DeLorean Complex and the prospects analogue to the Argyll field
  5. Multiple stacked horizons in Rotliegende, Zechstein & Jurassic, and adjacent to a producing field that has established production in all three zones.
  6. Seismic mapping was based on extensive impedance/amplitude work and audited by an engineering firm that confirmed the features as analogues to the adjacent redeveloped Alma/Galia Field (Argyll field).
  7. The amplitude and correlated petrophysical work suggest that the features could have high permeability with flowing production capability of 10,000 BOPD per verticle well.
  8. Drilling depth of 9,000 ft. in water depth of 200 ft.

 

 


 

 

The Draco Complex

 

Farm-in Opportunity to Blocks 44/7-10 in the UK Southern North Sea with recoverable potential >3.2 TCF and adjacent to the Cygnus Field.

 

  1. 28th round awards consisting of four blocks in the highly prospective Southern North Sea gas area of Quad 44: Blocks 44/7-10 (221,000 gross/126,147 net acres).
  2. Based on high-quality 2013 reprocessed 3D data, eight drill-ready prospects comprising of the Draco Complex with a recoverable resource ranging from 2-3.2 TCF.
  3. Blocks immediately offset Cygnus field, one of the largest UK gas discoveries in the past 25 years (.7+TCF reserve estimates); production expected to commence in early 2016.
  4. The primary zone in the Carboniferous has excellent reservoir characteristics and Centrica’s recently announced Pegasus discovery proved the play concept of multiple stacked reservoirs and a single well production capability of 90 MMCF/day
  5. Low operating costs under $10 per boe and robust economics due to proximity to adjacent gas infrastructure.
  6. Using 500 BCF (base case), a prospect yields an after-tax IRR of 16% and NPV (10%) of $140 million at 35 pence per therm (current gas prices).
  7. Drilling depth of 13,500 ft. and water depth 75 ft. 

 


 

 

 

Please email jphillips@4genenergy.com for more information on our current opportunities.