Hyperdynamics Corporation, an independent exploration company, has received an improved exploration risk assessment of two deepwater wells, increasing its chances of a successful drilling operation in a largely untested basin offshore Guinea, Ecofin Agency reported.
The improved risk assessment follows the reprocessing of 3D seismic data by specialty processor eSeis Inc. covering the Fatala 1 and Buried Hill 1 deepwater prospects offshore Guinea using a more advanced technology that produced clearer images of the geologic characteristics of the projects, according to Offshore Engineering.
Through this imaging, Netherland, Sewell & Associates, Inc. (NSAI) was able to increase the chances of success for the Fatala 1 prospect from 25% to 31%, and for the Buried Hill 1 prospect from 20% to 24%. Using standard industry methodology, NSAI noted that both prospects represent “low risk exploration.”
NSAI’s most recent estimates of the resource potential in Hyperdynamics 5000km2 concession area predicted the presence of 4.8b barrels of recoverable hydrocarbon resources. This includes more than 2b barrels of recoverable resources in prospects with a 20% or higher chance of success.