MEO Australia is achieving positive results from the seismic reprocessing and inversion study currently underway over the Beehive prospect in WA- 488-P, off the north coast of Western Australia.
MEO said that Beehive is a potential giant, dual objective, oil prone prospect in the Bonaparte basin in 40m water depth next to the producing Blacktip field.
The Carboniferous age objective is a 180sq km isolated carbonate build up with 400m of mapped vertical relief, analogous to the giant Tengiz field in the Caspian basin. This play type is undrilled in the Bonaparte basin.
Beehive is defined by a tight grid of pre-existing 2D seismic data, which MEO has recently commenced reprocessing in order to de-risk the prospect.
Results of the preliminary reprocessing undertaken by the firm show a significant improvement in seismic data quality, leading to a stronger interpretation of key elements of the Beehive prospect.
“The Beehive prospect is one of the largest hydrocarbon structures in Australia,” said MEO CEO Peter Stickland. “The results to date from the current reprocessing of seismic data across the Beehive prospect have exceeded our expectations. The improvement in data quality is significant and it appears to strengthen key elements of the Beehive interpretation. The reprocessing and inversion are on track to be completed by mid-2016, which will enable a full update of the characterization of Beehive.”
Upon completion, MEO will then seek a farm-in partner to fund further exploration of the Beehive prospect.
Map of Beehive, from MEO
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