Deltic Energy has completed the 3D seismic survey over its Licence P2428 (Cupertino Area) and surrounding areas in the Southern North Sea.
Deltic Energy kicked off the 3D seismic survey over Licence P2428 in mid-September, following the announcement of the farm-out agreement with Cairn Energy in August.
The seismic vessel, under contract to ION Geophysical, acquired approximately 680km 2 of new 3D seismic data over the Plymouth Zechstein Reef prospect and surrounding areas.
The acquisition was completed on 21 November and the vessel will now be demobilized back to its homeport.
Data will be processed by ION to pre-stack depth migration (PSDM) with the final results expected to be delivered in Q2 2022.
“Successfully completing the acquisition of this new 3D seismic data represents another important step forward as we further progress this highly prospective licence with Cairn towards future drilling,” said Graham Swindells , CEO of Deltic Energy.
“The results of this high-quality modern 3D seismic survey are expected to significantly enhance our understanding of the multiple gas prospects on P2428 and will be key to de-risking future drilling on this licence.”
To remind, under the farm-out agreement, Cairn is responsible for 100% of the costs of the seismic acquisition, processing and associated work programs up to the point at which a positive well investment decision is made.
Following the completion of the farm-out , Deltic now holds a 40% non-operated interest in Licence P2428, which contains the key Plymouth prospect, a large Zechstein carbonate build-up, analogous to Deltic’s Pensacola Prospect and the Crosgan discovery.
Further upside on the block is associated with the Cupertino and Richmond prospects which will also be further evaluated using the newly acquired 3D seismic data.