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Rose Petroleum advances 3D seismic in Paradox basin, expected to complete ahead of schedule

“The seismic is key to unlocking the acreage, by not only identifying drill targets but also steering the horizontal leg of the wells,” Matthew Idiens said

Onshore oil drilling
It is a prelude to future drill programmes

Rose Petroleum PLC (LON:ROSE) confirmed it is advancing its 3D seismic exploration campaign in the Paradox basin, Utah.

The company said in a statement  that field operations started before its recent funding and it is now “well on track” with the seismic shoot and it anticipates completion ahead of its year-end target.

READ: Rose Petroleum raises £3mln for Paradox exploration programme

In total, the explorer is to shoot seismic over a 40 square mile area. Recording kicked off on October 4 and the programme should last five weeks, depending on weather.

Chief executive Matthew Idiens said that the programme was making “significant progress”.

“The seismic is key to unlocking the acreage, by not only identifying drill targets but also steering the horizontal leg of the wells,” Idiens said.

READ: Rose Petroleum to look for lithium targets as it advances Paradox basin acreage

“The quality data and the track record of the team we have assembled to deliver a successful drill programme puts us in a strong position going forward.”

He added: “According to our technical team, who have significant seismic shoot experience in the area through their time at Fidelity, the quality of the data achieved during the sweep parameter tests is some of the best they have seen to date in the basin, which is extremely encouraging.”

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