P2437 – Selene
The Selene prospect, with gross P50 prospective resources of 318 BCF, is one of the largest undrilled structures in the world class Permian Leman Sandstone Fairway. Following the 2019 farm-in by Shell, the JV is scheduled to drill an exploration well on the Selene structure in mid-2024 with enabling works commencing in the autumn of 2023.
|Operator:||Shell UK Ltd|
The Selene prospect is located on the northern limb of the Sole Pit Basin inversion axis and takes the form of a NW-SE elongated closure. The prospect is formed by two south-west dipping fault blocks.
Well 48/08b-2 was drilled down-dip of the Selene prospect, near or on major faults, contributing to its lower than regional trends reservoir quality. During geological uplift these faults likely transmitted fluids, which led to minerals precipitating into the reservoir pore spaces, resulting in 48/08b-2 being classed as a dry well despite seeing up to 4.9% gas peaks in the Leman Sandstone.
Shell U.K. Ltd Farm-in to P2437
On 30th April 2019 the Company announced that Shell U.K. Ltd exercised their option on Licence P2437 and specifically the Selene prospect. Following completion of the transaction in August 2019, Deltic have transferred a 50% working interest in Licence P2437 to Shell in return for a cash sum of USD$600,000 and Shell funding 75% of the costs the first exploration to be drilled on the licence up to a gross well cost of USD$25M. In July 2022 the Partnership committed to drill an exploration well on the Selene structure.
Well 48/08A-1 well discovered Sloop in 1989, a Lower Leman gas bearing sand in a heavily faulted structure. A 209.7m gross Leman Sandstone was encountered with certain sections reaching 12% porosity. Log analysis suggests a gas-water contact at 2908m TVDSS. The discovery has a gas initially in place of 17 to 54 BCF.
Straddling blocks 48/08b & 03, the Endymion prospect is a structural closure at Leman Sandstone. The structure is formed by the extension of the fault system that creates the Mimas field, on strike to the southeast and is separated from Mimas by a low. With success at Selene, Endymion is seen as a follow-on opportunity due to its proximity to infrastructure.
Rig and Jib Lead
The Rig and Jib Lead is a three-way dip closure against north-west trending normal faults. The Rig and Jib Lead can be separated into two separate culminations. The Rig Lead independently has an aerial closure of approximately 8km2, in comparison the Jib Lead has an area of 4km2.
|Licence Ref||DELT Equity||Prospect||Type||PRMS Status||Net Prospective Resource (BCF)||Risk Factor %|
|Rig and Jib||Lead||6||15||29||35|