Shearwater Wraps Up Pensacola Shoot for Shell

Shell and its partner Cluff Natural Resources have completed a 3D seismic survey extending to approximately 420 square kilometers over the Pensacola Prospect in the Southern North Sea.

The survey, conducted by Shearwater GeoServices using the Polar Empress, was completed on time and with no health, safety or environmental incidents, Cluff said.

Data collection started on 4 August and was completed on 21 August.

The data collected will now be processed, along with the existing legacy dataset, to pre-stack depth migration (‘PSDM’) with the final results expected to be received by early Q3 2020, although some interim results may be available before this date, Cluff noted.

Under the terms of the farm-in agreement, Shell are paying 100% of the costs of the seismic acquisition, processing and interpretation work programme until the end of 2020 or until a well investment decision is made. The partnership is still on course to meet the timelines agreed with the Oil and Gas Authority (OGA) and a decision on the contingent well commitment is expected to be taken in the second half of 2020.

Cluff holds a 30% non-operated interest in Licence P2252 and the Pensacola prospect which is estimated to contain gross P50 Prospective Resources of 309 BCF in an untested Zechstein Reef.

Cluff’s chief executive, Graham Swindells, said: “We would like to thank Shell and Shearwater for completing a safe and efficient acquisition programme in what were challenging weather conditions for this time of year. The PSDM datasets represent a key step towards the drilling of an exploration well on the Pensacola prospect and we look forward to receiving the final products in due course. While awaiting delivery of the newly acquired seismic data, we continue to work with Shell on licence P2437 as we progress the Selene prospect towards a drilling decision.”