ADM Energy commissions Xodus Group to produce new CPR on Barracuda Field
25-05-2021 09:07:23 | by: Bob Koigi | hits: 215 | Tags:
ADM Energy PLC, a natural resources investing company has commissioned Xodus Group Ltd, a global energy consultancy, to produce an updated Competent Person’s Report (“CPR”) on the Barracuda Field.
The new CPR is the next step in the agreed scope of work under the Risk Sharing Agreement (“RSA”) for the development of the Barracuda Field, in which the Company holds an indirect interest.
The independent report will provide a full technical and economic review of the Barracuda Field, assessing the latest data to define the asset’s geological profile and estimated gross in-place and recoverable oil and gas volumes from oil and gas accumulations located in NW OML 141 Licence Area, onshore Nigeria. Xodus will use the Society of Petroleum Engineers (“SPE”) Petroleum Resource Management System (“PRMS”), updated in 2018, for classification
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