Permian Basin-focused oil and gas company, Winchester Energy Limited has identified, from both 3D seismic and well control, the El Dorado, Mustang and Spitfire prospects.
All three prospects are incorporated in the company’s 17,000-acre leasehold position. The cumulative gross Prospective Resource for these prospects on a probabilistic basis is estimated at around 7.796 million barrels if oil and productive reservoir targets are present in these prospects.
El Dorado Prospect:
- The El Dorado Prospect is a large four-way closed structure. The closure has been mapped at multiple levels. Winchester has 100 per cent working interest in this prospect.
- Winchester has commented that multiple horizons are prospective including the Wolfcamp ‘D’ shales and carbonates, the Penn Carbonate, the Strawn sandstones and carbonates and the Ellenburger carbonates with closure present over 3,000 feet of the vertical section.
- The company used a vast number of wells in the Nolan County in the vicinity to determine recovery factors, 3D seismic mapping to calculate the trapping area and well logs to determine the prospective reservoir thickness. The recoverable barrels per acre-fit for the prospects are based on the adjacent Suggs Oil field and White Hat Ranch Field producing data.
- The proposed location for drilling of the third prospect, Mustang, is further north-east from the Strawn Channel and closer to the previous drilled White Hat wells.
- It is a stratigraphic trap interpreted from 3D seismic and well control data.
- The Mustang Prospect has an up to 1000-acre interpreted prospective area and will target the Fry, Strawn and Ellenburger formations. Winchester Energy holds 75 per cent working interest in this prospect.
- The Spitfire Prospect is interpreted to be an incised valley fill of Strawn Formation sediments composed of sands and carbonates, as seen in wells adjacent to the prospect.
- The Strawn valley fill is located in a depression between structural highs that creates a large stratigraphic trap.
- Winchester has stated that oil shows are present within this ‘edge’ well in the Strawn sands and carbonates, the primary target within the Spitfire Prospect. Reservoir risk and intraformational seal risk within the valley fill are determined to be the main risks for the Spitfire Prospect containing an oil productive formation.
- Winchester currently holds 75 per cent working interested in the Spitfire Prospect.
The full announcement can be found here.