Bahamas Petroleum Co. is preparing to spud its first exploration well offshore the Bahamas, Perseverance #1.
The location is on the northern segment of the ‘B megastructure’. BPC is targeting a prospective recoverable oil resource at this location of 767 MMbbl, with upside of 1.444 Bbbl.
BPC selected the well location based on analysis of high-resolution 3D seismic data, identifying a better developed top seal and reservoir characteristics at this crestal point on the northern segment of the 400-sq km (154-sq mi) B structure.
A discovery could extend into a larger portion of the overall structure extending to the southeast. The entire structure could contain more than 2 Bbbl, the company added. Read more >>