Nordic Energy is in the process of evaluating the prospectivity of its 80%-owned Danish licence 1/13, which was acquired by the company in September 2013.
Based on new data, the company will carry out its technical evaluation using a newly acquired pseudo-3D seismic volume to incorporate results from the Luna Well, along with other relevant data.
The evaluation will generate updated maps and a new set of volumetrics and risking on a Chance of Success (‘COS’) basis for the licence.
The technical update will be released in the first quarter of 2014.
According to the company, previous exploration activities have occurred on the exploration and production licence in the North Sea covering 3,600km², including two wells drilled in the 1970s.
Nordic Energy CEO Rudolf Kleiber said considerable technical data including 11,600km of 2D seismic and various well logs exist for licence 1/13.
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"We are currently applying advanced technologies and techniques to this data to build a comprehensive pseudo-3D geological model for the licence area. We expect the results of this work including volumetrics to be available in Q1 2014, which will be followed by a new CPR," Kleiber added.
Licence 1/13 also has potentially multiple company-making structures which the company is looking to de-risk and shore up.
It is believed that the presence of a thin gas bearing Miocene sand in the R-1 well is of significance and proves the presence of hydrocarbons on the licence area, as well as the presence of porous and permeable sands with gas trapped inside.
Similar thin shallow Miocene sands have been developed as commercial gas fields by Chevron in the northern Dutch North Sea sector.
The extent of the resources adds a potentially low risk prospect type to the already established Rotliegendes and Pre-Permian potential, and is therefore being investigated on the licence at present.
Image: Chevron drilled two wells, the R-1 well in 1973 and the S-1 well in 1975. Photo courtesy of suwatpo / FreeDigitalPhotos.net.