Van Dyke Energy Company North Sea Activities

Van Dyke Energy Company North Sea Activities

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1992, Van Dyke Energy Company Brochure

Why the North Sea? Divided into two areas, with primarily gas to the south and oil to the north, the North Sea has yielded prolific discoveries over the past twenty-five years. Since exploration became active in the late-'60's, the discovery rate and the reserve potential of the North Sea has steadily grown. Now, with the emergence of new technolgies, the Independent can explore and produce small fields economically. Also, the Independent's prospects have opened up. As companies streamline their operations and reassess license interests, attractive acquisitions and farmins are bcoming a common feature of the North Sea. No longer considered a frontier, the North Sea still provides attractive opportunities for investors. Here's why:

Secure political and tax environment.

Close access to expanding markets.

Availability of exploratin and development data.

Average new reserves: 60-100 MMBO and/or 100 BCF - 1 TCF.

Wildcat success ratio: UK - 28%; Netherlands - 45%

An established and highly sophisticated infrastructure servicing the petroleum industry.

Proximity to Europort and the world's largest refining center, Rotterdam.

Activity & Success in the Netherlands

Van Dyke Energy Company first ventured into the North Sea when it was still a frontier in 1973.  As one of the first U.S. Independents to play the region, Van Dyke has contributed to several significant discoveries in Offshore Netherlands.  In all, proved recoverable reserves are in the range of 100 MMBO and 700 BCF.

Activity in Offshore Netherlands began when Van Dyke's first Group purchased a 25% interest in Tenneco's Netherlands licenses, covering some 1.2 million acres.  Since 1973, this same group has joined in drilling over 30 wells.  Netherlands' RIjn Field discovery (40 MMBO), two gas discoveries on P/2, and an oil and gas discovery on L/1 have resulted.  This same group has benefitted from discoveries on P/15, representing 40 MMBO and 400 BCF.

With a farm-in from Amoco, Van Dyke discovered the prolific P/9 field in 1983 (later renamed the Horizon Field by Unocal).  The discovery nearly doubled the Netherlands' estimated oil reserves.  Operated by Unocal, production commenced in August, 1993.  With in-place reserves of over 300 MMBO, and recoverable reserves of 70 MMBO, the expected 25,00 BOPD in early 1994 will double the Netherlands oil production.  The Horizon Field is the North Sea's first field to employ horizontal drilling technology from start to finish. 

Block Q/13 was assembled by Van Dyke taking an option from Shell/Esso (NAM) on Q/13a, and an Eighth Round license award on Q/13c.  Total block size is 80,000 acres.  In January, 1994, Q/13-8 tested at 3,400 BOPD at 37 degree oil.  Located six miles from the Dutch shoreline in 67 feet of water, this is a significant discovery.  Field development plans are now being finalized.  The Q/13 Project reflects Van Dyke's plans to explore and develop smaller oil fields by taking advantage of innovative technology.