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Wednesday 2nd March 2016
Mature Basins – Feeding the Recovery
Revitalising UKCS Exploration through the application of
advanced technology
Focus shift to near-term, lower risk and mature basins
Global exploration strategy trends (2014-2016)
APPEX Global 2016
Source: Wood Mackenzie (Feb 2016)
2
Focus shift to near-term, lower risk and mature basins
Global exploration strategy trends (2014-2016)
APPEX Global 2016
Source: Wood Mackenzie (Feb 2016)
3
Focus shift to near-term, lower risk and mature basins
Global exploration strategy trends (2014-2016)
APPEX Global 2016
Source: Wood Mackenzie (Feb 2016)
4
Focus shift to near-term, lower risk and mature basins
Global exploration strategy trends (2014-2016)
APPEX Global 2016
Source: Wood Mackenzie (Feb 2016)
5
Focus shift to near-term, lower risk and mature basins
Global exploration strategy trends (2014-2016)
APPEX Global 2016
Source: Wood Mackenzie (Feb 2016)
6
• Proportion of wells drilled in emerging plays reducing, but switching to drilling bigger
prospects in more mature basins
7
REP40 by play maturity
Global high-impact exploration drilling
APPEX Global 2016
Source: Richmond Energy Partners (2016)
Source: Tethra Energy (Feb 2016)8
• Highest average commercial success rate (46%) since 2002
• Approximately 165 MMboe found through exploration, plus over 100 MMboe
progressed through Appraisal
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Highest E & A success rate in over 10 years
UKCS 2015 Exploration Highlights
APPEX Global 2016
Source: Hannon Westwood
UKCS Exploration Success Rate
Exp
lora
tio
n w
ell
co
un
t
Su
cce
ss %
• Highest average commercial success rate (46%) since 2002
• Approximately 165 MMboe found through exploration, plus over 100 MMboe
progressed through Appraisal
MM
bo
e
10
Highest E & A success rate in over 10 years
UKCS 2015 Exploration Highlights
APPEX Global 2016
Source: Wood Mackenzie &
Hannon Westwood
Volumes discovered per exploration well
• Daily contracted rig rates down significantly
• Fourth generation Semi-Submersible
currently on market for $150k/day
• Industry targeting 50% reduction in 2016
through ‘Oil & Gas UK 50per cent
Challenge Group’
11
Well costs down 42% since 2013
Significant UKCS cost deflation
APPEX Global 2016
Average cost per exploration well (£MM)
Daily rig rates for Mobile Drilling Units ($’000/day)
Source: North Sea Reporter
Source: Oil & Gas UK
• Remaining 15-24 billion barrels of oil equivalent yet to be recovered
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3-9 billion barrels still yet-to-find resources (OGA, Oil & Gas UK)
Significant remaining UKCS potential
APPEX Global 2016
Source: Oil & Gas Authority
UK Undeveloped Discoveries
13
UKCS Exploration focused strategy
Established and growing exploration business
APPEX Global 2016
• Launched in February 2014
• Funded by Seacrest Capital Group
• 14 Licence portfolio (5 operated)
– Operated & Non-Operated
– High average Licence Interest (69%)
• Upfront investment in latest generation
seismic database & technology
• Empowers exploration team to use cutting
edge technology to de-risk opportunities
Portfolio & Database
MC3D Geostreamer
Other Conventional
MegaSurvey Plus
MegaSurvey
P1979
P1763P2150
P2278
P1989P2165
P1946
P2169
P2179
P2172
P2280
P2162
P2007
P1966
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Regional informing the local
APPEX Global 2016
Base Crustaceous Unconformity TWTWitch Ground Graben - East Shetland Platform – South Viking Graben
Agar
Hamilton
Irresistible
Boaz
Zeta
Homer
Courtesy of PGS
0 50Kms
• Reservoir property prediction enhanced by more low frequency information
• With a Broadband approach low frequencies from the wells are less critical
• Increased high frequencies provide better vertical seismic resolution
• Better signal to noise at range of depths
15
Why Broadband seismic?
APPEX Global 2016
Conventional Broadband
Am
plit
ude
Am
plit
ude
Frequency Frequency
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Why Broadband seismic?
APPEX Global 2016
Conventional Broadband True reflectivity
Deep imaging enhancements
UK16/8a-10 NO15/5-2
17APPEX Global 2016
Top Chalk
BCU
Top Sleipner
? ?
? ?
Base Chalk
Eirin Gina Krog
NW SE
Boaz
Eirin
Gina KrogBP 1993 Miller 3D
TD in SkagerrakTD in M.Jur
Boaz
Deep imaging enhancements
18APPEX Global 2016
Eirin Gina Krog
UK16/8a-10 NO15/5-2
Boaz
Top Chalk
BCU
Top Sleipner
Top Triassic
Top Permian
Base Chalk
Gina Krog
NW SE
PGS 3D Geostreamer 2013
TD in SkagerrakTD in M.Jur
Boaz
Eirin
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High resolution & inversion friendly
APPEX Global 2016
Conventional
Courtesy of PGS
P-impedance
(Absolute)Pre-stack simultaneous
sparse spike inversion
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High resolution & inversion friendly
APPEX Global 2016
Broadband
Courtesy of PGS
P-impedance
(Absolute)Pre-stack simultaneous
sparse spike inversion
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Improved resolution and noise reduction
Seismic Data Conditioning
APPEX Global 2016
Q compensation, SBO(corrects for energy absorption)
SC filter de-noise
Trim statics
Frequency balancing
Raw(stacked partial stacks)
Conditioned(stacked partial stacks)
Sleipner
Sleipner
Improved Bandwidth
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How it used to be done
Conventional Workflow
APPEX Global 2016
Petrophysics
Research (or specialised studies)
Rock Physics
Inversion
Seismic Structural
interpretation
Volumetrics
Risk Analysis
23
Best practise techniques applied across the portfolio
Quantitative Interpretation
APPEX Global 2016
Petrophysics
Seismic Structural
interpretation
Volumetrics
Risk Analysis
Property
Prediction
Forward
Modelling
Rock Physics
Inversion
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Two approaches
AVO Attributes Workflow
APPEX Global 2016
Intercept
Gra
die
nt
Class IV
(Sleipner AVO)Coals
Seismic ProjectionExtended Elastic Impedance
Intercept
Gradient
Fluid Trend
chi
Calculate EEI EEI = (I * cos (chi)) + (G * sin (chi))
Colour Invert to layer impedancesEarth operator derived from logs
Apply projection directly to seismic I, GUsing trace maths
EEI productRelative, layer based property
optimised for fluid or lithology
Seismic projection productRelative property, directly derived
from seismic I, G (no earth operator applied)
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Historical 2D data (1990’s)
‘Homer’ prospect
APPEX Global 2016
TW
TT
(m
s)
Scapa SstInterval: 26 m
Net/gross: 59%
Porosity: 22%
Water-wet
Scapa Sst
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3D Geostreamer 2013
‘Homer’ prospect
APPEX Global 2016
TW
TT
(m
s)
Courtesy of PGS
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3D Geostreamer 2013
‘Homer’ prospect
APPEX Global 2016
TW
TT
(m
s)
Courtesy of PGS
28
Extended Elastic Impedance
‘Homer’ prospect
APPEX Global 2016
TW
TT
(m
s)
Gra
die
nt Im
pedance (
GI)
Acoustic Impedance (AI)
Homer
BCU
Top Valhall
Oil
Water
Shale
29
Two approaches
AVO Attributes Workflow
APPEX Global 2016
Intercept
Gra
die
nt
Class IV
(Sleipner AVO)Coals
Seismic ProjectionExtended Elastic Impedance
Intercept
Gradient
Fluid Trend
chi
Calculate EEI EEI = (I * cos (chi)) + (G * sin (chi))
Colour Invert to layer impedancesEarth operator derived from logs
Apply projection directly to seismic I, GUsing trace maths
EEI productRelative, layer based property
optimised for fluid or lithology
Seismic projection productRelative property, directly derived
from seismic I, G (no earth operator applied)
Intercept Gradient projection (fluids)
Burnt Island Prospect
APPEX Global 2016
Burnt Island
22m Hugin
Water<15m Hugin
Water
27m Hugin
Oil
+ oil
Water/shale
BCU
Sleipner
Grevling
Burnt Island Grevling
W E
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ORG Geophysical
Induced Polarisation
APPEX Global 2016
V
t
Induced Polarization effect
VIP
V0
V0 Resistivity
VIP Amount of IP
τ Relaxation time of process
h
32
ORG Geophysical
Induced Polarisation
APPEX Global 2016
33
Norwegian blind tests 2012 – 2016
Induced Polarisation
APPEX Global 2016
By 2016
19 of 22 wells (87%) are correctly predicted by the method
34
Norwegian blind tests 2012 – 2016
Induced Polarisation
APPEX Global 2016
By 2016
19 of 22 wells (87%) are correctly predicted by the method
Well name Top
reservoir(m)Reservoir age
Tecnology prediction
Drilling result Operator Spudded Completed
6407/1-6 S 4250 L Cretaceousc HC 9m gas Wintershall 07.12.2012 24.01.2013
6506/9-3 4692 M Jurassic HC 47m gas/cond Statoil 16.06.2013 27.08.2013
7220/7-2 S 1117 U Triassic HC 133m oil/gas Statoil 02.10.2013 16.12.2013
31/3-4 2082 L Jurassic No HC Dry Tullow 23.11.2013 05.01.2014
6507/10-2 S 1957 M Jurassic HC 12m oil/12m gas Faroe 10.11.2013 10.02.2014
25/5-9 2240 Palaeocene HC 21m oil Total 01.01.2014 25.02.2014
8/10-5 S 2750 L Jurassic No HC Dry Centrica 01.01.2014 06.03.2014
6407/1-7,7 A 3345 L Cretaceous No HC 9mgas/12m cond Wintershall 23.03.2014 20.04.2014
8/10-5 A 2263 L Jurassic No HC Dry Centrica 06.03.2014 22.05.2014
31/2-21 S 3217 L Jurassic No HC Dry Tullow 27.04.2014 04.06.2014
8/10-6 S 1945 L Jurassic No HC Dry Centrica 31.05.2014 06.07.2014
31/10-1 2357 Palaeocene No HC Dry Tullow 01.07.2014 25.07.2014
30/11-10/10 A <3900 M Jurassic No HC 100m oil Statoil 02.11.2014 31.12.2014
25/6-5 S <2500 M Jurassic HC 10m gas/cond Total 13.03.2015 10.04.2015
6407/8-7/7 A <3000 M Jurassic No HC Dry Statoil 27.04.2015 14.05.2015
6507/11-11 <2900 M Jurassic No HC Dry Tullow 25.05.2015 01.07.2015
10/4-1 <2400 M Jurassic No HC Dry Wintershall 22.06.2015 13.07.2015
2/11-11 <3400 L Cretaceous No HC Dry Edison 21.06.2015 27.07.2015
6407/10-5 <2890 L Jurassic No HC Dry Shell 25.08.2015 19.09.2015
6406/12-5 S <3710 U Jurassic No HC Dry VNG 22.09.2015 12.11.2015
35/11-18, 18A <3874 M/U Jurassic No HC minor oil: 11m, gas/oil 33/24m Wintershall 27.09.2015 15.12.2015
6407/10-4 3224 U Jurassic/Permian No HC Dry Lundin 12.11.2015 20.01.2016
35
Frigg Area - 2012
Induced Polarisation
APPEX Global 2016
Tertiary oil
Top reservoir 1 900m
Jurassic oil and gas
Top reservoir 3 300 m
Jurassic oil and gas
Top reservoir 3 000 m
Dry well
FriggArea
Stress Field Detection System™
Ultra High Resolution Gravity
APPEX Global 2016
© 2015 NXT Energy Solutions Inc.
36
Stress Field Detection System™
Ultra High Resolution Gravity
APPEX Global 2016
Density
• Rock type
• Porosity
• Pore fluid
• Permeability
Stress
• Redistribution of SHmax and SHmin
• Permeability distribution controlled by SHmax
• Pore pressure affects SHmin
• Shear stress reduction due to fluid
© 2015 NXT Energy Solutions Inc.
37
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