Hi Retired,
Buffalo was a producing oil field until a combination of low oil prices and water ingress made BHP decide it was no longer profitable. So the chance of success is 100%. Along came CVN who purchased it and reworked the seismic data discovering that in between a number of wells existed a vast attic of oil that had been missed. In addition there is the possibility that there may have been replenishment of the other reserves that were being worked. It is located in very shallow water and will require a FPSO. It's all be done before! The only risk I can see is the attic oil being water. Even if it is it will still be profitable for CVN.
I am no expert but seeing no one else wanted to answer you I hope the above is helpful.
Hi Retired, Buffalo was a producing oil field until a...
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