Atlantic Margin - Corrib South
Predator has a 50% interest in licencing option 16/26 (“Corrib South”) together with its partner, Theseus (50%)
Corrib South lies only 20 km. south of the Corrib subsea gas gathering manifold making it a candidate for a potential subsea tie-back. Spare capacity is forecast to be available in the Corrib infrastructure within the likely time framework for drilling and potentially developing Corrib South.
The area of minimum closure for Corrib South is covered by the same 3D seismic survey that extends over the Corrib gas field.
The reservoir target in Corrib South are the Sherwood sandstones, the producing gas reservoir in the Corrib gas field, Mercia salt, as at the Corrib field, is expected to seal the reservoir which is also likely to have been charged from similar gas-prone Westphalian source rocks.
The size of the Corrib South structure in the maximum case, which depends on pre-2000 vintage 2D seismic coverage to the southwest, is similar to that of the Corrib gas field. Drilling and water depths are similar.
Attractive geology and a clear pathway to development and monetisation provide an appealing backdrop to Predator’s current farmout process.
- Corrib South is located 18km from the Producing Corrib Gas Field Production
- Licensing Option offshore West of Ireland.
- Application submitted to convert Licensing Option into a Frontier Exploration Licence.
- Predator looking to farm down interest for a carry on exploration drilling
|Gross Attributable||Net Attributable to Predator(50%)|
|Risk Factor (%)||Operator|
The best estimate prospective resource for Corrib South is 424.8 BCF and the high estimate is almost 1TCF.
Celtic Sea – Ram Head
LO 16/30 -Predator Oil & Gas Ventures: 50% (Operator), Theseus Ltd: 50%
Located 40kms east of the Kinsale gas field and gas pipeline to shore in the Celtic Sea Basin. It contains the Ram Head Prospect, formerly identified and drilled by Marathon in 1984 when dry gas was discovered in 49/19-1 well.
The reservoir targets are Middle and basal Upper Jurassic sandstones. The new technology has provided enhanced information in relation to the potential quality of proven Jurassic gas reservoirs and Cretaceous oil sands penetrated by the Marathon well.
The 12-month extension to 30/11/2019 was granted and subsequently on 10 April 2019.
Ram Head reservoir engineering study shows potential development via 10 wells capable of delivering 400 mm cfgpd and recovering over 1 TCF of gas in 11 years.
Screening study to assess the technical feasibility and commercial viability of re-entering the 49/19-1 well to test discovered gas in order to calibrate the proposed scoping development plan. Results indicate that the re-entry is feasible and very cost effective compared to drilling a new well.
Planning for a well re-entry will be undertaken during 2019 with a view to executing the programme in 2021, subject to all fully compliant regulatory consents and approvals.