3D seismic helps define drilling sweet spots

88 Energy (ASX:88E) has defined “sweet spots” for drilling ahead of its 1H 2023 exploration well at its Project Icewine East on Alaska’s North Shelf.

After recently licensing 3D seismic data over its Icewine East project 88E set about re-interpreting and analysing the data to try and put together a high priority drilling target.

Today, 88E completed all of this analysis and interpretation works and confirmed that it would look to drill the Hickory-1 exploration well in H1 2023.

This well is designed as a vertical well to be drilled to approximately 12,500 feet to intersect and test all four key play fairways at the project (Shelf Margin Delta, Slope Fan System, Basin Floor Fan and Kuparuk).

Importantly, these are the same structures where 88E’s neighbour Pantheon Resources (capped at $1.6BN) has successfully drilled.

As well as refining selection of target drilling locations, 88E can use the seismic data to further enhance its existing 2D and 3D interpretation and reservoir understanding, and improve the probability of geological success.

88E reported that areas of anomalous “Amplitude Variation with Offset” behaviour were identified, which could indicate hydrocarbon content and/or superior reservoir quality.

Drilling the Hickory-1 well helps meet a objective that we want to see 88E achieve over the coming 12 months — ”Clear Exploration Program laid out for Project Icewine”.

We want to see 88E flow testing its acreage to follow up on the theory that its London-listed neighbour Pantheon Resources’ proven reservoirs could extend into 88E’s project area.