20th Aug 2015 09:03
LONDON (Alliance News) - LGO Energy PLC Thursday said it has begun production testing on the sixth well of its seven well drilling programme on the Goudron field in Trinidad as the highly successful campaign nears completion.
LGO said that after an initial clean up, the GY-675 well on drilling pad 5 delivered a natural flow rate of approximately 325 barrels of oil per day, and was completed over a 95-foot interval in the C-sand reservoir below 1,750 feet true vertical depth measured below sea level.
It is now undergoing a series of production tests.
"We are delighted that the first of the Pad-5 wells has been completed successfully and is giving early indications of excellent flow characteristics," Chief Executive Neil Ritson said in a statement.
Elsewhere on the field, the seventh and final well of the 2015 programme, GY-678, is currently at 1,484 feet measured depth where the 9 5/8-inch casing is being set. The well should reach planned total depth of 4,200 feet in the next few weeks, it said.
Once that final well has been completed, tested and hooked up to production, LGO plans to provide some form of production guidance for the Goudron field.
At the end of July, LGO said production stood at around 951 barrels of oil per day but that excluded the last five wells that have been drilled on the field.
LGO's drilling programme in 2015 on the Goudron field has so far been successful, with all the wells encountering hydrocarbons. Once the final GY-678 well has been drilled on pad three, the company will provide some form of production guidance for the field.
Shares in LGO Energy were trading up 1.3% at 1.52 pence Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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