Innovation Is at the Heart of What We Do
Aspect’s Exploration Team has recently embarked on the Gulf Coast Renaissance Project; reprocessing and merging selected 3D seismic surveys from Aspect’s extensive Gulf Coast seismic library. This project has resulted in several prospects in new and deeper under-explored horizons.
Aspect concluded 3D seismic technology would be best utilized in basins where reservoir quality and geological conditions were sufficiently complex for 3D seismic to provide a meaningful advantage, laying the foundation for the company’s business strategy. Today, Aspect holds one of the largest contiguous onshore 3D seismic databases in North America, with over 12,000 square miles of 3D seismic data covering this prolific resource base. From 1998-2010, Aspect and its partners spent ≈$940 million to drill over 525 wells. Together they recognized a success rate of 59% finding 703 Bcfe in reserves worth ≈$1.89 billion (PV10). As Exploration Operator, Aspect managed ≈$540 million in investments (cumulative with partners) to drill 347 of these wells from 1998-2015, with a success rate of 61% and 452 Bcfe in reserves worth over ≈$1.25 billion (PV10). Aspect has re-focused exploration effort back to the Gulf Coast in 2015 and is expecting an renewed exploration program in the coming years.