Draupner Energy is farming out interest in licence P2331 (blocks 38/27, 38/28, 44/2 and 44/3a) which contains the Balvenie prospect. The prospect is located in shallow water (approximately 30 m) near gas production facilities and export infrastructure with spare capacity for a potential tie back. Balvenie is estimated to hold in excess of 1 Tcf of recoverable gas. The company is looking for partners to further mature the prospect through the acquisition and processing of preferably 350 sq km but at least 200 sq km of 3D seismic data. Alternatively, there is a lower cost option of a full carry on to acquire all available 2D seismic field data. However, this carries a higher risk, poorer pre-drill resource estimations and potentially misplacing the exploration well. The data room is open from 12 December 2018 to 30 April 2019. Equity is available in exchange for coverage of historic costs, carry on work programme elements and/or a cash offer. Draupner has applied for nearby acreage through the 31st Licensing Round which contains further potential from the Durham Hauptdolomite prospect with follow-up potential of 0.75 Tcf recoverable gas.Â   The primary reservoir objective is the Zechstein Hauptdolomit which has a thickness of 45 - 65 m. It consists of platform carbonates deposited in a lagoonal environment as ooid and oncolite shoals with local stromatolite development. Field studies onshore England show good lateral extent of the carbonate platform faces for at least 15 km. Porosity and permeability has been enhanced through dolomitisation. Offshore well data and onshore field studies prove good average porosities of 16% and up to 25% in places. Permeabilities average at 50 mD with localised fracture networks further enhancing the permeability. The anhydrite and halite of the Basalanhydrite and Stassfurt Halite form top seals. Further reservoir potential is provided through thin (10 m) limestones and dolomites from the Plattendolomit and Zechsteinkalk stratigraphy. The lowermost sedimentary package contains Upper Devonian Buchan sandstones and Middle Devonian Kyle limestones which overlie a fractured basement. Draupner estimated recoverable resources of 312 Bcf and 1,277 Bcf for this sedimentary package. These reservoirs could be penetrated by deepening the exploration well by 500 m to 2,700 m and running an additional casing string. The reservoirs are trapped by a 4-way dip closure ranging in size from 97 sq km to 197 sq km. The primary source rock is the Lower Carboniferous Scremerston formation which contains coals and organic rich shales with TOCâs of up to 40% and HI of 250 mgHC/gTOC.    The 791 sq km licence was awarded on 15 May 2017 to Draupner in the 29th Licensing Round. The initial term for the licence is split into three phases each for a duration of three years. Phase A involved firm commitments of obtaining 2,000 km legacy 2D seismic data, all relevant well data in the acreage and G&G studies to be completed. Draupner completed this programme through obtaining over 5,800 km of 2D seismic data, collecting data on 5 wells and completing seismic interpretation, source rock modelling, reservoir and prospect evaluation.  P2331 is held solely by Draupner Energy Limited (100% + operator).
Draupner Energy is farming out interest in licence P2331 (blocks 38/27, 38/28, 44/2 and 44/3a) which contains the Balvenie prospect. The prospect is located in shallow water (approximately 30 m) near gas production facilities and export infrastructure with spare capacity for a potential tie back. Balvenie is estimated to hold in excess of 1 Tcf of recoverable gas. The company is looking for partners to further mature the prospect through the acquisition and processing of preferably 350 sq km but at least 200 sq km of 3D seismic data. 