Nalcor Energy and Ikon Science Canada release Regional Pore Pressure Study for offshore Newfoundland and Labrador

Press Release  –

October 8, 2014, St. John’s, NL ‐ Nalcor Energy and Ikon Science Canada (Ikon) release a comprehensive regional pore pressure study for offshore Newfoundland and Labrador to the global oil and gas industry. This is the first large scale regional pore pressure study for offshore Newfoundland and Labrador.

The Regional Pore Pressure Study is a comprehensive evaluation of the subsurface pressure systems in Newfoundland and Labrador’s eastern frontier slope and deepwater basins. The study region spans an offshore area from northern Labrador to the Flemish Pass in the south, including the newly discovered Chidley, Henley and Holten basins in the Labrador Sea. The analysis integrated well data and new regional seismic data that was compared to global analogues. The report is now released and available for free download on the Nalcor Energy website. Click here for a copy of the report.

“This report delivers to the global oil and gas industry a foundational regional pore pressure analysis of Newfoundland and Labrador’s frontier basins upon which future prospect-specific pressure evaluations can be reliably built, thereby enhancing the safety and efficiency of offshore well planning,” said Jim Keating, Vice President, Nalcor Energy Oil and Gas. “The regional pore pressure study is one of several geoscience initiatives that Nalcor is undertaking to advance the exploration and future development of Newfoundland and Labrador’s frontier petroleum basins.”

Ikon Science has extensive worldwide experience in regional pressure analysis. The report utilized analogues from other global deepwater settings to help understand how relationships in the shallow water manifest in deeper waters. Geological analogues were drawn from areas such as the Grand Banks, West Greenland, Nova Scotia, mid-Norway and the West of the Shetlands. Comparisons with other deepwater regions, including the Gulf of Mexico, were also made.

“Regional pressure studies help companies prepare for the unexpected, while at the same time building knowledge about the subsurface conditions,” said Rob Dudley, Manager, Ikon Science. “Companies can therefore make drilling plans with greater confidence; resulting in a reduction in unscheduled downtime, allowing for shorter drilling time frames and safer operations.”

Martyn Millwood Hargrave, CEO of Ikon Science added, “Regional studies, like the one carried out for offshore Newfoundland and Labrador, provide new insights on frontier basins. This allows E&P companies to concentrate resources on prospects that offer greater likelihood of success while managing drilling operations safely and efficiently.”

The study is funded in part by the Provincial Government’s Offshore Geoscience Data Program. Since 2009, the Provincial Government has invested $17.3 million in offshore exploration through the Offshore Geoscience Data Program. In Budget 2014, the Provincial Government invested a further $1 million in offshore and onshore geoscience programs to facilitate more exploration in Newfoundland and Labrador.

Ikon Science is recognized as the world leader in regional pressure studies, with numerous multi-client studies notably in Europe and Australia. Ikon Science Canada is the most recent subsidiary incorporated by Ikon Science, opening its doors in September 2012.

As Newfoundland and Labrador’s Crown Energy Company, Nalcor is leading the exploration of the Province’s frontier basins by making strategic investments in new geoscience data and analysis to evaluate Newfoundland and Labrador’s undiscovered oil and gas resource potential.

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Media Contacts:
Cara Pike, Corporate Communications, Nalcor Energy
t. 709.737.1446 c. 709.685-9290 e. carapike@nalcorenergy.com

Julianne O’Brien, Marketing, Ikon Science
t. 713.598.3824 e. jobrien@ikonscience.com