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Finder is an oil and gas exploration company based in Perth, Western Australia. Established in 2004, the Company have earned a strong reputation in the industry as an active and successful explorer. Finder is currently one of the largest exploration acreage holders on the North West Shelf of Australia.
Utilising the company’s extensive well and seismic database, Finder’s management team with over 100 years combined experience, create value through technical expertise in data capture and interpretation, and the ability to identify and acquire highly prospective oil and gas exploration acreage.
Finder has been consistently successful in competing for acreage in gazettal rounds, farming out to industry partners to fund drilling and seismic operations which has led to success in discovering hydrocarbons in the region.
In May 2021, Finder Energy completed the acquisition of two highly prospective UK North Sea operated licences, P2502 and P2524, from Azinor Catalyst
United Kingdom operations
In February 2021, Finder Energy announced the award of a 100% interest in P2530 in the 32nd UK Offshore Licensing Round.
P2530 is located in the Central North Sea and covers an area of 576 square kilometres and is located 140km ENE of Aberdeen in water depths of around 90 metres (see Location Map). P2530 is surrounded by oil fields including the Greater Kittiwake Area and the prolific Forties Oil Field. Finder has identified stacked play potential with key objectives being the Lower Cretaceous and Upper Jurassic sandstone reservoirs.
UK 32nd Round
In April 2021, Finder announced the awarded of a 100% interest in the P2528 Licence in the 32nd UK Offshore Licensing Round.
P2528 is located on the southern edge of the South Halibut Basin, Central North Sea and covers an area of 454 square kilometres and is only 90 km NE of Aberdeen.
The leading prospect identified by Finder on the licence is Whitsun, targeting the same Upper Jurassic reservoir that hosts the nearby Buzzard Oil Field. The Buzzard Field was discovered in 2001 and contains over 1 billion barrels of oil. In addition to the Whitsun prospect, the licence contains a further four prospects and leads and a small oil discovery.
Acquisitions
In May 2021, Finder Energy completed the acquisition of two highly prospective UK North Sea operated licences, P2502 and P2524, from Azinor Catalyst Limited (Azinor).
P2502 is located on the western edge of the East Shetland Basin, Northern North Sea, and covers an area of 424 square kilometres and is 85 km NE of the Shetland islands (see Location Map). The licence holds significant potential in the Upper Jurassic turbidite play with over 1.2 billion barrel oil equivalent identified across eleven mapped leads. Finder currently holds an operated 100% working interest in this licence.
P2524 is located on the southern flank of the South Viking Graben, Central North Sea, and covers an area of 171 square kilometres and is 250 km NE of Aberdeen. The leading prospect on the licence is Barracuda, targeting the same Upper Jurassic reservoir that hosts the nearby prolific T-Block and Brae complex oil fields. In addition to the Barracuda prospect, the licence contains a further three prospects and leads and two small oil and condensate discoveries. Finder currently holds an operated 40% working interest in this licence, with Harbour Energy holding the remaining 60% working interest.
Goose license
In July 2021, Finder Energy completed its acquisition of the highly prospective UK North Sea Goose licence, P2317, from Azinor Catalyst Limited (Azinor).
P2317 is located in the NW Witch Ground Graben of the Outer Moray Firth, Central North Sea, and covers an area of 292 square kilometres and is 175 km NE of Aberdeen (see Location Map). The licence contains the drill ready Goose prospect, a large low risk amplitude supported Lower Cretaceous prospect, that sits immediately adjacent to the Northern Flank of the Claymore field (see Goose Overview). The Goose prospect has Pmean recoverable resources of 75 mmbbl with additional low risk follow-on potential at the adjacent 85 mmbbl Long Bird prospect.
Finder currently holds an operated 100% working interest in this licence and is seeking partners to join in the drilling of the Goose exploration well in 2022 or 2023.
Acquisition
In April 2022, Finder Energy expanded its UK North Sea portfolio after entering into an agreement with Talon Energy to acquire a 100% interest in Seaward Production Licence P2527.
P2527 is located in the Outer Moray Firth and covers an area of 110 sq kms approx. 100km ENE of Aberdeen in water depths of around 100m (see map). The Licence contains the White Bear prospect, is located next to the giant Buzzard field (1.5 billion barrels) and is proximate to Finder’s P2528 licence.
The Buzzard field, which was discovered in 2001, is the most significant oil discovery in the North Sea in the modern era and the UK’s highest producing oil field (peak production exceeded 200,000 bopd) with the reservoir consisting of Upper Jurassic deep marine turbidites within the Kimmeridge Clay Formation.
CNS P2530
In July 2023, Finder Energy announced the results of its interpretation of the new Big Bird 3D reprocessing and interpretation project and the high-grading of a number of appraisal and exploration opportunities within the P2530 Seaward Production Licence located in the UK Central North Sea. Finder holds a 60% interest in P2530 and is the Licence Administrator and the remaining 40% is held by Dana Petroleum who farmed into the licence last year. The licence is located within the North Kittiwake Basin and is surrounded by the Forties and Nelson fields to the north and the Kittiwake and Gannet fields to the south. The area is infrastructure-rich with multiple host facility options for field tie-backs. As a result of the detailed Big Bird 3D interpretation and technical studies, Finder has identified upside potential in the historical Wagtail Discovery and an additional six prospects within the licence. Wagtail, Marsh, and Bancroft are formed from classic “interpod” traps similar in style to the nearby Kittiwake, Goosander, and Grouse oil fields. The remaining four prospects, Tye, Turner, Agar, and Stoinis are combination traps of Fulmar Formation reservoirs deposited within Jurassic mini basins and pinching out onto the basin margin highs. Wagtail discovery has an appraisal potential of 19 MMbbl gross 2C contingent resource and COS of 57%, and the low-risk Bancroft (COS 42%) and Marsh (COS 40%) prospects have gross mean prospective resources of 32 MMbbl and 23 MMbbl, respectively. The joint venture (JV) is progressing with the evaluation of drilling candidates within P2530. In parallel with evaluations, Finder will shortly be initiating a farm-out process to secure an industry partner to fund drilling activity. Having completed the work programme for Phase A of the Licence, the JV will shortly make a decision whether to enter into the next 2-year period of the Licence (Phase B) with a drill-or-drop decision in Q3 2025.
Portfolio
P2502
Basin: East Shetland Basin, Northern North Sea
Area: 424 km²
Water Depth:~150 metres
Status: Seaward Production “Innovate” Licence – Phase A
Interests
Finder Energy (50%, Permit Administrator)
Dana Petroleum (E&P) Limited (50%)
P2524
Basin: South Viking Graben, Central North Sea
Area: 171 km²
Water Depth: ~125 metres
Status: Seaward Production “Innovate” Licence – Phase A
Interests
Finder Energy (40%, Permit Administrator)
Chrysaor Limited, now Harbour Energy (60%)
P2530
Basin: West Central Graben, Central North Sea
Area: 576 km²
Water Depth: ~85 – 110 metres
Status: Seaward Production “Innovate” Licence – Phase A
Interests
Finder Energy (60%, Permit Administrator)
Dana Petroleum (E&P) Limited (40%)
P2528
Basin: South Halibut Basin – Peterhead Graben
Area: 454 km²
Water Depth: ~110 metres
Status: Seaward Production “Innovate” Licence – Phase A
Interests
Finder Energy (60%, Permit Administrator)
Dana Petroleum (E&P) Limited (40%)
P2527
Basin: Ettrick Basin, Outer Moray Firth
Area: 110 km2
Water Depth: ~100 metres
Status: Seaward Production “Innovate” Licence – Phase A
Interests
Finder Energy (60%, Permit Administrator)
Dana Petroleum (E&P) Limited (40%)
Surrounded to the west by the giant Buzzard oil field and the east by the Ettrick and Blackbird oil fields, a number of Upper Jurassic prospects have been identified.
Finder is currently reprocessing 3D seismic data covering the licence and is looking to advance their understanding of the prospects and the potential to tie back discoveries to the Buzzard facilities.
Contact
FINDER EXPLORATION PTY LTD
Finder Exploration Pty Ltd, 9 Richardson Street, West Perth, WA 6005 Australia
Tel: +61 8 9327 0100
Leadership
Damon Neaves, Managing Director and Chief Executive Officer
Shane Westlake, Technical Director
Aaron Bond, Exploration Manager
Anthony Benino, Company Secretary and Chief Financial Officer
Nick Terrell, UK Country Manager
Bronwyn Barnes, Independent Non-Executive Chairman
Fred Wehr, Independent Non-executive Director
News archive
Finder Builds North Sea Position Around the Giant Buzzard Field 26/04/2022
Finder acquires North Sea Goose license from Azinor 06/07/2021
Finder Energy appoints Nick Terrell as UK Country Manager 23/05/2021
Finder acquires North Sea acreage from Azinor 21/05/2021
Finder adds North Sea acreage following UK 32nd round award 07/04/2021
Finder enters UK North Sea 18/02/2021
KeyFacts Energy: Finder Energy UK country profile
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