PROSPECT GENERATION
NRT (Niagara Reef Trend, Northern Michigan): Innova supports an operator with technical (wellbore/seismic integration) evaluation of NRT redrill candidates. A number of wells are ready to re-enter, but are on pause because of the Covid-19 pandemic. Working interest is available for these low-risks, low-cost drilling deals with a highly-regarded operator.
TBR (Trenton/Black River, Southern Michigan): Designed, acquired, processed and interpreted high-effort 3D dataset over an existing field resulting in multiple drillable redevelopment locations, including over 15 drillable, step-out prospects. First step-out well drilled was successful, and despite operational issues, it is currently a flowing, water-free, oil well. Currently looking for industry partners to participate in the drilling of three permitted/drill-ready, 3D seismic defined, step-out prospects, named the Triangle Drilling Deal .
Continuing work with the 3D seismic attributes in this project has allowed the recognition and mapping of higher porosity reservoir (over 7% porosity) in 3D. Exhaustive work on the integration of the well information and seismic data has led Innova to be part of the industry contributor in a Battelle-led, DOE -funded grant to investigate the use of chemical-enhanced CO2 to improve CO2 EOR in these complex carbonate reservoirs. The press release issued by Battelle that appeared in the Michigan Oil and Gas News is attached as a separate item.
GEOLOGICAL CONSULTING
Appalachian Basin: Innova provides technical support for large ($500M) mineral buying project . Based upon the buy outlines generated by Innova, over 65,000 mineral acres have been acquired. Minerals from this project are commonly participating in 25% of the wells being drilled per month in the buy area. The project is currently generating royalty from 946 producing wells.
Geophysical Consulting for Exploration Projects:
Innova is responsible for the interpretation of existing 2D and 3D datasets, the QC of potential new seismic data for licensing, plus the design of future 3D seismic programs. Also, Innova is assembling the core-calibrated log signature of reservoir facies with an end goal of direct, seismic-detection of the reservoir. Project is currently on hold because of the Covid-19 pandemic. Innova designed, acquired, processed, interpreted exploratory 3D dataset resulting in drillable SRT prospects with underlying TBR leads. The spud date for the exploratory well is currently on hold because of the Covid-19 pandemic.