This study analyzed “Shula field” offshore Niger Delta basin for it hydrocarbon bearing capacity. Well logs and seismic data were used for the analysis. Well logs consisting of gamma ray, resistivity, neutron and density logs for five different wells were used. Gamma ray logs aided lithological identification, resistivity logs were used to delineate hydrocarbon bearing zones while a combination of neutron and density logs aided in distinguishing oil and gas zones. Three hydrocarbon bearing sands (reservoirs) of varying thickness designated as RES-AA, RES-BB and RES-CC were identified. Well log correlation of the five wells revealed lateral continuity of the sand units thinning out in northwestern direction of the study field. The range values of gross thickness (GT), net-to-gross (NTG), volume of shale (VSH), effective porosity (ΦEff), permeability (K), hydrocarbon saturation (Sh) and water saturation (SW) for RES-AA reservoir are 51-74ft, 0.88-98%, 0.10-11%, 24-28%, 174-734mD, 8-80%, and 20-92% respectively. RES-BB reservoir range values of (GT), (NTG), (VSH), (ΦEff), (K), (Sh) and (SW) are 47-65ft, 83-98%, 8-14%, 24-32%, 234-1880mD, 4-78%, and 22-96% respectively while the RES-CC reservoir range values of (GT), (NTG), (VSH), (ΦEff), (K), (Sh) and (SW) are 121-191ft, 82-96%, 8-11%, 23-31%, 125-1352mD, 9-88% and 12-91% respectively. Sixteen faults were identified and interpreted comprising of nine synthetic and seven antithetic faults. The time and depth structural maps show the subsurface structural geometry and possible hydrocarbon migration and trapping potential. The probable structure trapping hydrocarbon in the study field is anticlinal structure and four-way closure. The volumetric calculation revealed that reservoir RES-AA has 951 × 106 bbl, reservoir RES-BB has 1058 × 106 bbl and reservoir RES-CC has 1688 × 106 bbl of oil originally in place (OIIP). Generally, the petrophysical results and the volumetric calculation for the field confirm an economically viable investment potential except for reservoir RES-AA, wellbore ZY-005 with 8% Sh, reservoir RES-BB, wellbore ZY-003 and ZY-005 with 4% Sh, and 7% Sh respectively and reservoir RES-CC, wellbore ZY-005 with 9% Sh. Therefore, these four reservoir units may be screen out during production to reduce the rate of water cut thereby increasing the producing life of the field.
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