New Oil and Gas Play Trend Presented at the Society of Exploration Geophysicists (SEG) International Annual Meeting

By October 18, 2016News

During the Society of Exploration Geophysicists(SEG) International Annual Meeting in Dallas, Nalcor Energy, along with its partners TGS, PGS and Airbus Defence and Space, presented the findings of a newly identified oil and gas play trend discovered Offshore Newfoundland.

Over the past five years, extensive 2D long offset broadband seismic data (110,000 line km) has been acquired offshore Newfoundland and Labrador. These new seismic programs have targeted the underexplored slope and deepwater areas of the province’s offshore. To further delineate this area, a 3D seismic survey was acquired over a portion of the area in the summer of 2015 and the data from the new 3D images provided further insight into the area’s potential prospectivity.

The play trend contains geology similar to slope and deepwater regions offshore Brazil. One of the key prospects in the area has similar characteristics to Brazil’s Marlim Field and has been named “Cape Freels”, which is the closest point of land to the play trend on the island of Newfoundland. The play trend is approximately 300 kilometres off the coast of Newfoundland within the 200 mile limit and is located within the West Orphan Basin. This area is the focus of the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) 2016 Eastern Newfoundland Call for Bids and Beicip Franlab’s recent independent resource assessment which identified the in place resource potential of 25.5 billion barrels of oil and 20.6 trillion cubic feet of gas.

Both Nalcor Energy Oil and Gas papers presented at the conference were ranked in the Top 30 (out of 1,046) by SEG members. Please view the links below for more details.