Rocksource at a glance
Rocksource is a fast growing Norwegian, independent oil and gas company focusing on exploration. Through our strictly disciplined, selective approach to exploration we have built a top quality portfolio of drillable prospects with a high chance of discovery and commercial volumes.
Rocksource explores where we can make a difference. Our competitive edge is the exploration phase, and we focus our business to where electromagnetic technology (EM) works. We aim to prove more barrels quicker and at lower cost than conventional explorers.
2011 will mark a step change as we move into the drilling phase – with the goal to transform significant exploration resources into reserves.
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Rocksource details 2011 drilling prospect sizes
Norwegian explorer Rocksource has indicated the potential size of the some the prospects it will be targeting offshore this year during its 2011 exploration campaign.
Four of the five wells in the Rocksource drilling programme sanctioned for this year, at Kora, Breiflabb and Helio and a final well in PL559 offshore Norway will be aimed at oil targets with 820 million barrels of oil equivalent while the fifth is a combined oil and gas prospect with a further 270 m boe.
Offshore West Africa, Rocksource will be participating in drilling in the AGC Profond licence between Senegal and Guinea Bissau which is operated by Ophir Energy. Targeting a prospect called Kora, Rocksource will be involved in a well with gross mean recoverable resources put at 450 million barrels of oil - which is thought to be mainly oil.
Kora is a four-way structural closure with Coniacian-Aptian reservoir, with an Upper Cretaceous and Tertiary shales seal and the primary source rock is Albian shales. Rocksource indicates that the Kora well is due to spud in the first or second quarter this year, using the ultra-deepwater semi-submersible Maersk Deliverer.
Offshore Norway, Rocksource will be participating in four more wells, in Production Licence 535 on Norvarg, in PL416 on Breiflabb, and in PL530 on the Helio prospect. A further well is due to be drilled in PL559 but a final decision on the prospect to be drilled here will be made in the first quarter.
Norvarg, operated by Total in PL535 in the Barents Sea, is due to be drilled by the West Phoenix between May and June this year, and is forecast as having 270 m boe of mean recoverable reserves comprising both oil and gas. Norvarg is a four-way structural closure with Snadd and Kobbe formation reservoirs, a Jurassic shale sealing system and a Kobbe formation source rock which was proven in the Ververis prospect.
Breiflabb in PL416 is operated by E.ON Ruhrgas and mean recoverable reserves are put at 170 m boe of oil. Rocksource has 35% equity in the prospect. Drilling is due to be carried out by the Borgland Dolphin in the second quarter and Breiflabb comprises a tilted fault block with a three-way closure and a Songnefjord reservoir, with a Draupne seal – the same as the Troll field – and a Draupne source rock.
Helio, another oil prospect with 200 m boe in PL530 and operated by GDF Suez also lies in the Barents Sea, and is to be drilled in the third or fourth quarter this year by the Aker Barents. Like the Goliat and Nucula discoveries, Helio is a rotated fault block with multiple reservoir targets including Snadd and Kobbe formations with a Jurassic shale sealing system – the same as Nucula – and a Kobbe formation source rock, the same as Goliat and Nucula. Also Helio has exhibited a strong response during an electro-magnetic survey.
In PL 559, which is close to existing infrastructure and operated by Rocksource with 60% equity, drilling is due to take place again in the third or fourth quarters this year, with the Borgland Dolphin semi-submersible. Several prospects have been identified within the block and Rocksource indicates that it will shortly make a decision on the prospect to be drilled.
All five sanctioned wells for this year have been described by Rocksource as high impact, and the company also indicates it has multiple options for 2012 in a presentation to the Pareto Securities E&P Independents conference in London which took place this week.
Four of the five wells in the Rocksource drilling programme sanctioned for this year, at Kora, Breiflabb and Helio and a final well in PL559 offshore Norway will be aimed at oil targets with 820 million barrels of oil equivalent while the fifth is a combined oil and gas prospect with a further 270 m boe.
Offshore West Africa, Rocksource will be participating in drilling in the AGC Profond licence between Senegal and Guinea Bissau which is operated by Ophir Energy. Targeting a prospect called Kora, Rocksource will be involved in a well with gross mean recoverable resources put at 450 million barrels of oil - which is thought to be mainly oil.
Kora is a four-way structural closure with Coniacian-Aptian reservoir, with an Upper Cretaceous and Tertiary shales seal and the primary source rock is Albian shales. Rocksource indicates that the Kora well is due to spud in the first or second quarter this year, using the ultra-deepwater semi-submersible Maersk Deliverer.
Offshore Norway, Rocksource will be participating in four more wells, in Production Licence 535 on Norvarg, in PL416 on Breiflabb, and in PL530 on the Helio prospect. A further well is due to be drilled in PL559 but a final decision on the prospect to be drilled here will be made in the first quarter.
Norvarg, operated by Total in PL535 in the Barents Sea, is due to be drilled by the West Phoenix between May and June this year, and is forecast as having 270 m boe of mean recoverable reserves comprising both oil and gas. Norvarg is a four-way structural closure with Snadd and Kobbe formation reservoirs, a Jurassic shale sealing system and a Kobbe formation source rock which was proven in the Ververis prospect.
Breiflabb in PL416 is operated by E.ON Ruhrgas and mean recoverable reserves are put at 170 m boe of oil. Rocksource has 35% equity in the prospect. Drilling is due to be carried out by the Borgland Dolphin in the second quarter and Breiflabb comprises a tilted fault block with a three-way closure and a Songnefjord reservoir, with a Draupne seal – the same as the Troll field – and a Draupne source rock.
Helio, another oil prospect with 200 m boe in PL530 and operated by GDF Suez also lies in the Barents Sea, and is to be drilled in the third or fourth quarter this year by the Aker Barents. Like the Goliat and Nucula discoveries, Helio is a rotated fault block with multiple reservoir targets including Snadd and Kobbe formations with a Jurassic shale sealing system – the same as Nucula – and a Kobbe formation source rock, the same as Goliat and Nucula. Also Helio has exhibited a strong response during an electro-magnetic survey.
In PL 559, which is close to existing infrastructure and operated by Rocksource with 60% equity, drilling is due to take place again in the third or fourth quarters this year, with the Borgland Dolphin semi-submersible. Several prospects have been identified within the block and Rocksource indicates that it will shortly make a decision on the prospect to be drilled.
All five sanctioned wells for this year have been described by Rocksource as high impact, and the company also indicates it has multiple options for 2012 in a presentation to the Pareto Securities E&P Independents conference in London which took place this week.
