88 Energy Ltd. established a maiden internal Prospective Resource estimate of 283 million bbl of oil in the Canning prospect at Project Leonis in Alaska.
This estimate follows a detailed review of an extensive data suite, including the reprocessed and interpreted 3D seismic data, the company said in a release Jan. 30. This review identified a significant geological feature attributed to basin-wide erosion during the Mid Campanian, which created canyon-like scours in the Hue shale, providing considerable accommodation space for high-energy, toe-of-slope turbidite sequences, it said. These turbidites form a thick reservoir succession of up to 336 ft thick, covering an area of about 43 sq km.
88 Energy is planning to drill the Tiri-1 exploration well, which will target the Canning Prospect and Upper Schrader Bluff (USB prospect) reservoir zones, also within Project Leonis. Drilling is contingent on securing a farm-out partner.
Project Leonis is close to export pipelines and the Deadhorse services hub. Its multi-reservoir appraisal drilling is targeting 664 million bbl of estimated net mean, unrisked Prospective Resources.
88 Energy has 100% working interest in Project Leonis.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
