Oil Shows News

UK-based oil and gas company President Energy President Energy has encountered oil in the third and final well of its current drill programme at the Puesto Flores concession in Argentina.Well PF0 1005 has been drilled, logged, cased and cemented to 2,360 metres both on time and on budget, the company focusing primarily on high margin production opportunities in Latin America said.Both the Punta Rosada primary target and the Lotena formation secondary target resulted in good oil shows while drilling and are shown by electronic logs to be encouraging with 18 metres of net oil pay determined to be tested having good oil saturation and porosity.

Ophir Energy plc announced that the Silenus East-1 well in Block R, Equatorial Guinea has resulted in a new gas discovery. The Silenus East-1 well was drilled by the Vantage Titanium Explorer drillship within the thrust belt area of Block R. A 67m gross gas column was encountered in the primary target with high quality reservoir in line with pre-drill expectations. The well was deepened to test a secondary high risk oil target and encountered high quality, but water-wet, reservoirs with weak oil shows. This play remains of interest to Ophir and will be further evaluated on the Block. The drillship has now moved to complete the Fortuna-2 appraisal well, where Ophir will conduct the first flow test in Block R.

Petrobras is operator for licence BM-ES-32, where the discovery was made and where Statoil holds a 40% stake. The exploration well was drilled at a depth of 2,130 metres and both oil and reservoir quality is good. The reservoir thickness is approximately 70 metres and is of good quality. The preliminary analysis of the oil shows a density in the range between 25 and 30 degrees API. The Inndra find was made by the semi-submersible rig Paul Wolfe. The location is situated 140 kilometres from land and some 400 kilometres north of the Peregrino field. At the moment Statoil is also participating in exploratory drilling in the Campos basin on licence BM-C-33, where Repsol is the operator.

Santos Limited (STO) announced that it has completed testing of the Dua-5X well, offshore Vietnam, after discovering multiple gas and oil reservoirs in the southern fault block of the Dua structure. The company reported that the two reservoir intervals have been tested with the primary reservoir target flowing oil at a stable rate of 5,543 barrels of oil per day (bopd) plus 6.76 million standard cubic feet of gas per day through a 2 inch choke. The oil and gas producer said that a deeper secondary reservoir flowed at a rate of 247 bopd through a 28/64” choke. Santos reported that work would now commence on the resource assessment and preparation of a reservoir evaluation report, which is the first step in the commercialization process within the PSC terms.