Business · Energy & Commodities · 2 hrs ago
Bounty begins technical review of Liberia’s deepwater Block LB-32
Bounty Oil & Gas has started technical checks on Block LB-32, a deepwater exploration area off Liberia.
The work is part of its proposed acquisition of PetroQuest Liberia Deep Water, which holds an engagement with Liberia’s National Oil Company, NOCAL.
The block is in the undrilled Harper Basin, so no wells have yet tested its potential.
Bounty has agreed terms to license 3D and 2D seismic data, which can help map underground rock formations.
It has also hired Molyneux Advisors to assess possible oil-bearing geological plays and rank leads and prospects by risked recoverable volume.
The area may include parts of the Jupiter and Zeus prospects, but these remain unproven targets.
The assessment is expected to guide a future work program and prepare technical information for potential partners.
Under the proposed arrangement, NOCAL would negotiate a production sharing contract, and grant PetroQuest an interest in the block if that contract is signed.
Bounty Oil & Gas has started technical due diligence on deepwater Block LB-32 offshore Liberia.
The review comes as Bounty works through its proposed acquisition of PetroQuest Liberia Deep Water.
Bounty has agreed commercial terms with seismic provider TGS to license seismic data covering part of the block.
Molyneux Advisors is conducting a subsurface assessment of multiple play types.
The assessment is expected to produce a ranked lead and prospect inventory, a recommended work program and technical material for a farm-out data room.
- Who
- Bounty Oil & Gas.
- What
- It has begun technical due diligence on Block LB-32, including licensing seismic data and assessing subsurface prospects.
- When
- The article was published on 13 October 2026. It says the due diligence has started.
- Where
- Deepwater Block LB-32, offshore Liberia, in the Harper Basin.
- Why
- Bounty is evaluating the block as it works through its proposed acquisition of PetroQuest Liberia Deep Water.
This story does not have two clearly opposing sides.
Bounty entered a binding share sale agreement to acquire PetroQuest Liberia Deep Water.
Stockhead reported that Bounty had started technical due diligence on Block LB-32.
- Block
- LB-32
- Location
- Offshore Liberia, in the Harper Basin
- Seismic data
- About 656km2 of 3D seismic and 753km of 2D seismic
- Assessment adviser
- Molyneux Advisors
- Proposed acquisition target
- PetroQuest Liberia Deep Water
Sources
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