ADM Energy has commissioned Xodus Group to provide an updated competent person’s report (CPR) on the Barracuda field offshore Nigeria.
Barracuda is in swamp/shallow waters in the OML 141 lease in Bayelsa State.
Three wells were drilled on the field in 1967, followed by Barracuda-4 in 2007.
A CPR prepared by Rider Scott in 2016 prior to ADM’s involvement estimated prospective in-place oil of 1.3 Bbbl from two sand reservoir intervals.
The new CPR, which could take up to six weeks to complete, represents the next step of the work scope under the risk sharing agreement for the field development.
Xodus will provide a technical and economic review of the field, assessing the latest data to define the geological profile and in-place/recoverable oil and gas volumes from oil and gas accumulations in the onshore NW OML 141 license area.