SLB engaged to identify potential of Pantera’s Smackover lithium brines
Leading subsurface technology company to develop 3D static geological model
Model will identify optimal well locations for future well planning and designs
Special Report: Pantera Minerals is bringing out the big guns with the engagement of world leading subsurface technology company SLB to identify the potential of its Smackover lithium brine project ahead of drilling the first well.
SLB is the world’s leading subsurface expertise and technology company in the oilfield sector, which would by itself translate well to exploring for lithium brine projects given the strong similarity in exploration for the two commodities.
The contractor has also expanded its domain expertise in subsurface and sustainable lithium production technology over the years, making it perfectly suited to supporting Pantera Minerals’ (ASX:PFE) push to explore its project, which covers 18,570 acres of the Smackover Formation in Arkansas.
The Smackover’s prospectivity is best demonstrated by the quality of resource majors it has attracted with big names such as ExxonMobil, Albemarle, Standard Lithium and Tetra all developing potentially multi-billion dollar projects to supply the burgeoning lithium market.
Arkansas itself benefits from a well-established oil and gas industry, exceptional logistics and transportation links, and a proactive, supportive state government.
PFE has already defined an exploration target of between 436,000-2.96Mt of contained LCE within its Superbird project area and has identified multiple re-entry wells within its footprint.
Pantera’s acreage is right next to ExxonMobil’s ground. Pic: Pantera Minerals
Leveraging leading expertise for lithium brine exploration
SLB will leverage its advanced subsurface technology and expertise to advance the already identified leads and multiple re-entry wells into drill-ready prospects.
It will use acquired 2D seismic, gravity and magnetic data to help define the extent of the Upper Smackover Formation and the location of faults for use in the 3D static modelling, which will identify optimal well locations for future well planning and designs.
This model will also be used by PFE for resource estimation ahead of maiden drilling and will be updated to a JORC-compliant resource estimation model once lithium brine geochemistry and porosity/permeability data is obtained from a well re-entry program.
“We are extremely excited to partner with SLB (NYSE: SLB), a global technology company, to complete and enhance sub-surface work in advance of our maiden drilling program,” executive chairman Barnaby Egerton-Warburton said.
“Our project already has an exploration target with a grade range between 225 to 450 mg/L with a median grade value of 338 mg/L and we hope to further refine and enhance that as we move through to the initial exploration phase.
“SLB’s extensive experience and proven track-record in subsurface analysis, reservoir and aquifer management, subsurface-surface technology integration, and operational performance will provide Pantera with an enhanced understanding of subsurface characteristics to inform better decision making.
“With the Arkansas Smackover boasting some of the highest-grade lithium brines globally, supporting oilfield services and infrastructure are now being established for America’s emerging lithium-brine industry, which includes Albemarle, Standard Lithium, Exxon Mobil and now Norway’s Equinor.”
Future activity
PFE continues to lease mineral claims within the Daytona Exclusive Abstract Area and will carry out a well re-entry and brine sampling program to obtain brine lithium grade and brine chemistry as well as core samples for porosity assessment and geophysical/petrophysical data.
Additionally, it will carry out new well drilling and brine sampling to assist in defining a JORC lithium brine resource.
This article was developed in collaboration with Pantera Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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