Initial Prospective Resource Evaluation on a New Helium Field
Sproule ERCE conducted a maiden prospective resource evaluation for Four Corners Helium’s assets in the USA, including the Jesse Field discovery. Faced with sparse legacy data and seismic limitations, the team integrated historical well records and reprocessed 2D seismic to build a reliable geological model. Working under tight timelines and evolving lease conditions, Sproule ERCE delivered ASX-compliant reporting and strategic insights that supported valuation, partner negotiations, and future exploration planning.
Project Highlights
- Four Corners Helium encountered limited historical data and sparse seismic coverage
- The company sought an initial resource evaluation for multiple prospects, including the Jesse Field discovery in the Red Project
- Sproule ERCE integrated older well data and reprocessed 2D seismic to deliver the maiden prospective resource assessment
- This assessment provided the client with a clear technical foundation to support further exploration and investment decisions
Challenges:
ASX Compliance Under Time Constraints: Four Corners Helium required the resource report to meet ASX standards for a potential partner within a limited timeframe, relying heavily on existing third-party consultant data.
Dynamic Ownership and Leasing Environment: Ongoing leasing activities and changing ownership during the evaluation period added complexity to data management and reporting.
Sparse and Legacy Data Limitations: Limited historic well data and sparse, older reprocessed seismic data posed significant challenges in confident resource estimation.
Dynamic Ownership and Leasing Environment: Ongoing leasing activities and changing ownership during the evaluation period added complexity to data management and reporting.
Sparse and Legacy Data Limitations: Limited historic well data and sparse, older reprocessed seismic data posed significant challenges in confident resource estimation.
Solutions:
Advanced Data Integration and Geological Modeling: Sproule ERCE integrated legacy well data and reprocessed 2D seismic with updated geochemical and analogue information to generate reliable resource estimates and develop a comprehensive geological model.
Collaborative Approach with Clients and Consultants: Sproule ERCE maintained close collaboration with the client and third-party consultants to align technical outputs with operational needs and ensure ASX reporting compliance.
Proactive Project and Data Management: Sproule ERCE strategically managed project timelines to accommodate leasehold changes, keeping evaluations current and delivering a maiden probabilistic resource report to support decision-making.
Collaborative Approach with Clients and Consultants: Sproule ERCE maintained close collaboration with the client and third-party consultants to align technical outputs with operational needs and ensure ASX reporting compliance.
Proactive Project and Data Management: Sproule ERCE strategically managed project timelines to accommodate leasehold changes, keeping evaluations current and delivering a maiden probabilistic resource report to support decision-making.
Values:
Enhanced Client Communication and Engagement: Sproule ERCE maintained constant dialogue through multiple technical meetings, fostering transparency and trust with the client and their consultants.
Robust Valuation Support for Partner Negotiations: Sproule ERCE’s resource evaluation played a pivotal role in establishing project value, facilitating successful negotiations with potential partners.
Credible Foundation for Strategic Development: Sproule ERCE provided a well-founded resource assessment that empowered the client to make informed, strategic decisions regarding exploration and investment.
Robust Valuation Support for Partner Negotiations: Sproule ERCE’s resource evaluation played a pivotal role in establishing project value, facilitating successful negotiations with potential partners.
Credible Foundation for Strategic Development: Sproule ERCE provided a well-founded resource assessment that empowered the client to make informed, strategic decisions regarding exploration and investment.