A B.C. operator is seeking a partner to develop a Triassic light oil pool on its property base in the B. C. townships. The pool size is estimated at 14 sections with 60 million barrels original oil in place. The operator controls 4 sections in the center of the oil pool with the opportunity to acquire more of the pool lands. The operator owns a production facility and several gathering lines within the pool boundary. The first location has been surveyed.
The drill target is an oil saturated zone with no bottom water. The target unit has been tested and recovered oil in several vertical completions within the mapped pool. The pool is offset by production from a vertical producer. The target unit has commercial production from an analogous pool 10 sections in size with cumulative production of 6.1 million barrels.
The test well will be a 1 mile horizontal with development wells planned to be 1.5 mile horizontals. Development wells are estimated to have an IP of 530 bopd with an IRR > 100% and a payout less than 1 year.
This pool has the potential to be one of the top ten Triassic oil pools in western Canada.
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