Enegi Completes Acquisition of 3D Seismic over Phoenix Block

UK junior Enegi Oil reported Friday that it has completed the acquisition of 95 square miles of 3D seismic data on the Phoenix block in the UK North Sea.

Enegi will now carry out in-house interpretation, subsurface analysis and reservoir modeling to determine the full range of recoverable reserves for the Phoenix discovery. The firm said that this will incorporate analysis currently being carried out by Azimuth Limited.

Azimuth will also look at the additional exploration potential of the block under a farm-in agreement announced in February, which may lead to further development activity.

Discovered by Royal Dutch Shell in 2004, the Phoenix oil discovery is a low-relief dip closed structure that lies on the Forties-Montrose High, between the Nelson field and the Montrose field in the central North Sea. A review of the Phoenix discovery by Enegi has led to a preliminary estimate of 15 million barrels of oil in place.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Enegi Completes Acquisition of 3D Seismic over Phoenix Block

UK junior Enegi Oil reported Friday that it has completed the acquisition of 95 square miles of 3D seismic data on the Phoenix block in the UK North Sea.

Enegi will now carry out in-house interpretation, subsurface analysis and reservoir modeling to determine the full range of recoverable reserves for the Phoenix discovery. The firm said that this will incorporate analysis currently being carried out by Azimuth Limited.

Azimuth will also look at the additional exploration potential of the block under a farm-in agreement announced in February, which may lead to further development activity.

Discovered by Royal Dutch Shell in 2004, the Phoenix oil discovery is a low-relief dip closed structure that lies on the Forties-Montrose High, between the Nelson field and the Montrose field in the central North Sea. A review of the Phoenix discovery by Enegi has led to a preliminary estimate of 15 million barrels of oil in place.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Enegi Oil to Search for Irish Shale Gas

Junior explorer Enegi Oil announced Thursday that it has applied to the Irish government's Petroleum Affairs Department for an exploration license to search for shale gas after the successful completion of its work program on the Clare Basin Licensing Option.

The Clare Basin option was awarded to Enegi in February 2011, since when Enegi has carried out an extensive work program to procure and evaluate technical data and obtain and analyze new geological data to develop a provisional assessment of the potential of the license.

Enegi said the results of the work program indicate that – given the maturity, thickness and buried depth of the shale there – the whole area under the option remains prospective for shale gas. The firm added that the studies also highlighted an area within an existing seismic grid as being particularly high grade based on the thickness of the shale and the lack of faulting present.

In November, Enegi revealed that an independent report from Fugro Robertson estimated in-place resources within the acreage covered by the option of 3.6 trillion cubic feet (Tcf) of free gas, with 1.2 Tcf of that being in the area identified as high grade.

Enegi CEO Alan Minty commented in a company statement:

"We believe the acreage covered by the Clare Basin Option is highly prospective. With this in mind and with the need to carry out further exploration work over the area, we have applied to the PAD to convert our option into an Exploration Licence which will allow us to carry out this work and to further prove up the potential that we believe this acreage holds.

"We look forward to hearing from the PAD on our application and providing further updates in due course."

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Enegi in New Farm-Out Deal with Azimuth

Enegi Oil announced Monday that it is farming out part of Block 22/12b in the UK North Sea to Azimuth Limited. The block contains the Phoenix discovery, while its remaining acreage is made up of potential exploration opportunities.

Azimuth will earn a 50-percent interest in the exploration area in exchange for the completion of an agreed work program that includes certain geological, geophysical and reservoir analysis. This analysis will use existing seismic and well data in respect of both the Phoenix area and the exploration area that Azimuth currently possesses. Enegi, and its partner ABTechnology, will retain a 100-percent working interest in the Phoenix area.

Block 22/12b is located in the Forties-Montrose High area of the central North Sea. The license was awarded to Enegi in the 27th Seaward licensing round for the UK Continental Shelf in October 2012.

Enegi CEO Alan Minty commented in a statement:

"This is the second farm-out agreement that we have completed with Azimuth and we are delighted to be working with them and have access to their extensive exploration expertise on both our North Sea assets.

"Both deals are completely in line with our strategy of de-risking our portfolio whilst maintaining a significant interest in work programmes which we believe have the ability to deliver value to the Company for a minimal capital outlay."

On February 1, Enegi announced it had reached an agreement to farm out to Azimuth part of North Sea Block 3/23, which contains the Malvolio prospect.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Enegi in New Farm-Out Deal with Azimuth

Enegi Oil announced Monday that it is farming out part of Block 22/12b in the UK North Sea to Azimuth Limited. The block contains the Phoenix discovery, while its remaining acreage is made up of potential exploration opportunities.

Azimuth will earn a 50-percent interest in the exploration area in exchange for the completion of an agreed work program that includes certain geological, geophysical and reservoir analysis. This analysis will use existing seismic and well data in respect of both the Phoenix area and the exploration area that Azimuth currently possesses. Enegi, and its partner ABTechnology, will retain a 100-percent working interest in the Phoenix area.

Block 22/12b is located in the Forties-Montrose High area of the central North Sea. The license was awarded to Enegi in the 27th Seaward licensing round for the UK Continental Shelf in October 2012.

Enegi CEO Alan Minty commented in a statement:

"This is the second farm-out agreement that we have completed with Azimuth and we are delighted to be working with them and have access to their extensive exploration expertise on both our North Sea assets.

"Both deals are completely in line with our strategy of de-risking our portfolio whilst maintaining a significant interest in work programmes which we believe have the ability to deliver value to the Company for a minimal capital outlay."

On February 1, Enegi announced it had reached an agreement to farm out to Azimuth part of North Sea Block 3/23, which contains the Malvolio prospect.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Enegi Oil Farms Out North Sea Block to Azimuth

Junior explorer Enegi Oil announced it has reached an agreement to farm out to Azimuth part of Block 3/23 in the UK North Sea. The block holds the Malvolio prospect, as well as a number of potential exploration opportunities.

Enegi said the deal will see Azimuth earn a 50-percent interest in the exploration area in exchange for the completion of an agreed work program that includes certain geological, geophysical and reservoir analysis that will use existing seismic and well data in respect of both the Malvolio area and the exploration area.

Enegi will retain a 100-percent working interest in the Malvolio area.

Enegi CEO commented in a statement:

"We are delighted to have reached agreement with the Azimuth team. We were only offered this Block just over three months ago and the fact that we are already moving ahead with our plans for it shows our desire to deliver and prove up the value that we believe is inherent not only in this asset, but also across our portfolio.

"We know the Azimuth team well and are delighted to be working with them on this project. They are a hugely experienced team backed by leading industry specialists with access to extensive resources, both in terms of data and people."

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here

Enegi Oil Farms Out North Sea Block to Azimuth

Junior explorer Enegi Oil announced it has reached an agreement to farm out to Azimuth part of Block 3/23 in the UK North Sea. The block holds the Malvolio prospect, as well as a number of potential exploration opportunities.

Enegi said the deal will see Azimuth earn a 50-percent interest in the exploration area in exchange for the completion of an agreed work program that includes certain geological, geophysical and reservoir analysis that will use existing seismic and well data in respect of both the Malvolio area and the exploration area.

Enegi will retain a 100-percent working interest in the Malvolio area.

Enegi CEO commented in a statement:

"We are delighted to have reached agreement with the Azimuth team. We were only offered this Block just over three months ago and the fact that we are already moving ahead with our plans for it shows our desire to deliver and prove up the value that we believe is inherent not only in this asset, but also across our portfolio.

"We know the Azimuth team well and are delighted to be working with them on this project. They are a hugely experienced team backed by leading industry specialists with access to extensive resources, both in terms of data and people."

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

View the original article here