Krill and Squilla Discoveries See GRV Jump by 60% and 243% After Seismic Reprocessing
Finder Energy’s reprocessing of 2025 seismic data reveals substantial increases in reservoir volumes at its Krill and Squilla fields, setting the stage for updated resource estimates and potential new development hubs.
- 2025 Ikan 3D seismic reprocessing improves imaging and fault resolution
- Gross Rock Volume increases by 60% at Krill and 243% at Squilla
- Enhanced reservoir definition supports larger resource potential
- Contingent resource updates and appraisal drilling plans underway
- Potential for tie-back to KTJ Project or new production hub in PSC 19-11
Seismic Breakthrough Boosts Confidence in Key Discoveries
Finder Energy Holdings Limited has announced a significant technical advancement following the reprocessing of its 2025 Ikan 3D seismic data over the Krill and Squilla oil discoveries within PSC 19-11. This new seismic interpretation has dramatically enhanced the clarity and resolution of subsurface images, particularly by resolving previously challenging shallow fault complexities. The improved data quality has allowed for a more precise mapping of the Laminaria Formation reservoirs, which underpin both fields.
Substantial Growth in Gross Rock Volume
The updated seismic interpretation has led to material increases in Gross Rock Volume (GRV), a key metric representing the three-dimensional rock space potentially containing hydrocarbons. Krill’s GRV has risen by 60%, while Squilla’s has surged by an impressive 243%. These uplifts suggest that both fields hold significantly larger resource potential than previously understood, providing a strong foundation for revising contingent resource estimates.
Implications for Development and Appraisal
With the KTJ Project progressing, Finder Energy is now focusing on unlocking the value of Krill and Squilla. Both fields require appraisal wells to confirm commercial viability, with options including tie-back to the existing KTJ infrastructure or establishing a new production hub in the southern part of PSC 19-11. The enhanced seismic data has also identified updip appraisal targets that were not visible with older seismic datasets, increasing the likelihood of successful resource delineation.
Integrating Geological and Petrophysical Insights
Beyond seismic imaging, Finder is conducting detailed geological studies integrating well data, petrophysical analysis, and core sample interpretation. These efforts aim to refine reservoir parameters such as porosity and net-to-gross ratios, which are critical for accurate resource quantification. The company’s approach reflects a comprehensive strategy to mature contingent resources toward commercial reserves.
Looking Ahead
The seismic reprocessing represents a pivotal step in unlocking the full potential of PSC 19-11’s upside opportunities beyond the KTJ Project. While the results are promising, the path to commercial development hinges on forthcoming appraisal drilling and resource certification. Investors and industry watchers will be closely monitoring how these developments translate into tangible value for Finder Energy.
Bottom Line?
Finder Energy’s seismic upgrade sets the stage for a resource re-rating, but appraisal results will be the true test.
Questions in the middle?
- When will Finder Energy release updated contingent resource estimates incorporating the new seismic data?
- What are the timelines and capital requirements for the planned appraisal wells at Krill and Squilla?
- How might the expanded resource potential impact the overall development strategy and valuation of PSC 19-11?
