WHERE ARE WE LOCATED?
All currently owned assets are onshore production fields in the Northeast Region of Brazil. These fields are located on areas with excellent infrastructure, well served by paved roads, ports, and airports, making the logistics cost very competitive.
Moreover, these regions have a well trained labor force. Because of its established E&P culture, all service companies have local presence, keeping access to such suppliers secure and at reasonable prices.
BLOCKS AND FIELDS
A Brazilian Company
Nord Oil & Gas
On the Harpia field surroundings, a series of production wells were drilled by Petrobras. After reactivating the exploratory well 1-PTA-3-SE, and drilling the exploratory one, 1-NORD-2-SE, oil accumulations were found confirming a total reserve of 29.2 MM bbl. This field has been producing since 2016 and in 2021 we plan to drill more wells, increasing production from 15 to 135 bopd.
Nord Oil & Gas
Located between 2 large producing fields, Angelim e Rabo Branco, Guará used to be part of the SEAL-T-430 block. After drilling 2 exploratory wells, 1-NORD 1-SE and 3-NORD-3-SE, a reserve of 2.5 MM bbl was confirmed. The 2 wells will be in production in early 2021. One needs perforating with acid to start production. The other produced 25 bopd a few years ago, and now is a completion away from producing again.
After geological interpretation, based on 3D seismic, three small structures were identified, with areas varying between 0.3 and 1 km². On the 22 km² block, the best area location, defined here as 1-REC-1-BA, is in a very favorable structural situation. With a final depth of 2100m, it has an estimated recoverable volume of 3.24 MM bbl. Following, three seismic anomalies were identified. The most important has a recoverable potential of 5 to 15 MM barrels and an estimated depth of 1100 m. However, more than 13 MM bbl is expected on those anomalies.
This block has an area of 26 km² In the pre-bid interpretations our team identified a lead that justified an offer. After data collection and further geological studies, the verified structure reinforces the effectiveness of a hydrocarbon migration route in this area, making it even more desirable It has an estimated recoverable volume of around 11 MM bbl.
Although this is an exploratory block, one well (1-FFL-1-BA) has a very high probability of gas production. It was drilled in 1992 by Petrobras but had to be returned to ANP, since they weren’t investing in it. This block has an area of 36 km² and during Petrobras tests, the 1-FFL-1-BA well produced 170 bopd. Natural gas reservoirs were also tested, with flow rates varying between 65.000 and 109.000 m3/day. In this block, the 1-QG-4-BA well was also drilled (by Queiroz Galvão) but due to low productivity, was returned to ANP. The operator performed seismic reprocessing and reinterpretation work in Canada and after new geological studies, a better positioning option for drilling a new well was selected. This prospectus will reach reservoirs at about 2300 m, with estimated recoverable volumes of around 8.45 MM bbl.
With the existing seismic data, the team of explorers mapped a structure, surrounded by producing fields, showing the effectiveness of the oil system in the area. The main reservoir of this 10 km² block has an identified depth of around 2400 m with estimated recoverable volumes of around 5.7 MM bbl.