Bold test on a shady (?) prospect

Due to the lack of EM-response, former partner Concedo does not believe in a commercial discovery on the Grind prospect. This wildcat will therefore be a crucial test for applying the EM technology in the Norwegian Sea.

Neptune has just spudded 6507/8-10 S on the Grind prospect east of the Heidrun field in the Norwegian Sea.

The prospect has been matured over a long time. It was first mapped by Norsk Hydro in the 1980s, later held by Neste/Fortum Petroleum, and from 2017 – 2019 by Concedo together with a partner.

Depth map to Top Tilje FM, according to Concedo.

Neptune aims for oil, likely in the Lower and Middle Jurassic sandstones in the Åre, Tilje, Ile and Garn formations. These are also the reservoir levels of the Heidrun Field.

However, CEO Geir Lunde in Concedo does not believe that the well will encounter hydrocarbons in commercial volumes. The conclusion followed a comprehensive analysis, including EM, and led Concedo to farm out from PL 889 in early 2019.

2D unconstrained inversion of EM data over the Grind prospect, according to Concedo.

Lunde gave a full account of their reasoning at their presentation at last year’s NCS Exploration Strategy conference. Concedo’s view on this well was also presented in GEO 01/2020 (“Will EM pass the test”).

Shows were encountered in one of the four nearest wells to the Grind prospect, the wildcat 6507/8-8. Other wells drilled in this part of the Grinda Graben east of the Heidrun field were all dry.

Partners in the license PL 889 are Wellesley and Equinor.