Condor Energy has completed the reprocessing of 1,000km2 of legacy 3D seismic data across its Tumbes Basin technical evaluation agreement offshore Peru.
This milestone includes enhanced oil and gas prospectivity across the Raya, Bonito, and Piedra Redonda fields.
The reprocessing project, executed by Advanced Geophysical Technology of Houston, has vastly improved the quality of seismic data.
Final products, including Pre-Stack Time Migration and Pre-Stack Depth Migration volumes, now offer enhanced insights into subsurface rock lithology and potential fluid content.
"The greatly improved 3D seismic data quality will enable more accurate resource estimation and precise structural imaging," said Ricardo Garzon Rangel, non-executive director of Condor Energy.
Additionally, Condor is now reviewing the Raya and Bonito prospects along with the Piedra Redonda discovered gas field using the reprocessed data to formulate resource estimates.
The company has also identified over 20 additional prospects and leads outside the reprocessing areas.
This technical advancement underlines Condor Energy's commitment to exploring and developing the Tumbes Basin, which holds significant untapped hydrocarbon potential.
Condor Energy is an oil and gas exploration company focused on identifying, exploring and developing energy and resource assets within Australia and globally.
At the time of reporting, Condor Energy’s share price was $0.032.