There has been comment on the oil saturation found in the West Schenck B#116 well - a typical development well to access traditional Blue Ridge pay zones. The decision was made to drill to a deeper target on the Jackson formation - it was not classified as a "high impact" well.
For those interested in saturation the following link is useful:
http://www.spec2000.net/14-swbasics.htm
The point to consider is the assertion that the high impact well Zivley #100 was found through paleontology study to have encountered the Jackson formation when it had a gas blowout. This well was 900 metres NE and 130 metres updip of the Schenck well.
With regards to saturation as per the diagram in the link above the pore space of the formation must be filled with some entity - in oil drilling the entities are gas at the top, oil in the middle and water at the bottom. Of course there are not clear separation lines and there are transition zones where you pass from 100% water to mainly oil, then a gas/oil transition to mainly gas.
If you drill on the flanks of an overhang trap you are likely to find a transition zone with lower oil content. The important point is that you have found oil and there is a possibility as you move up the structure to the gas cap this oil saturation will increase.
FDM Price at posting:
64.0¢ Sentiment: Hold Disclosure: Held
