GOM offers lowest breakeven costs
Fit for purpose team with former Anadarko leadership team at GulfSlope Energy; credited with redevelopment of shelf Miocene; deep GOM experience
Targeting horizons below thick salt sheets; seismic can be reprocessed to see and evaluate opportunities
Has 2 billion barrels of potential of recoverable conventional resources on 21 blocks
Are seeing reduction in service costs; adjusted operating model changed from non-op to operated. It will be a mix, so the company will remain flexible to generate as many opportunities to drill and find large discoveries with an appropriate WI ownership percentage
Believes the company has a first mover advantage by going back into the GOM as others are leaving to drill shale plays
Company is using regional 3D data set of 2.2 million acres (440 blocks) to identify future lease block targets
DeGolyer and MacNaughton reviewed GulfSlope’s 17 individual prospects; Average size is 120 MMBOE; independent 3rd party evaluation of prospect sizes; in-line with previous internal company estimates; five of 17 have been selected for initial drilling campaign
Internal numbers from GulfSlope’s full-cycle analysis suggest breakeven costs of $20-$25/BOE, providing the company to build a drilling program in a proven petroleum system that can weather a variety of commodity cycles
Increase in processing speed and drop in cost to process seismic are the differentiators for E&P companies. Computer processing speed has moved from months to hours and days. Very powerful tool to run iterative scenarios.
Recent GSPE News
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- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2023 08:47:32 PM
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