BW Energy and its partners have made oil discovery in an exploration well in the Dussafu licence offshore Gabon, the company announced Aug. 25.
The Hibiscus North exploration well (DHBNM-1) well is located about 6km north-northeast of the Hibiscus discovery well DHIBM-1, in a water depth of approximately 115 m.
During drilling using the Borr Norve Jack-up rig, the DHBNM-1 well encountered Gamba structure at a depth of 2794 m and identified around 13.5 m of oil-bearing reservoir in the Higher Gamba sandstone.
BW Energy said the Upper Gamba sandstone is the primary target reservoir at the well.
The partners are continuing to drill the exploration well to intersect the secondary targets in the deeper Dentale Formation.
Once the well is drilled to a total depth of approximately 3,500m, the partners will undertake the oil discovery’s total depth, logging operations and evaluation.
The Dussafu licence is operated by BW Energy with a 73.5% stake. Other license partners include Gabonese Oil Company (9%) and Panoro Energy (17.5%).
Recommended Reading
Exxon Shale Exec Details Plans for Pioneer’s Acreage, 4-mile Laterals
2024-05-03 - Exxon Mobil plans to drill longer, more capital efficient wells in the Midland Basin after a major boost from the $60 billion Pioneer Natural Resources acquisition. Data shows that Exxon is a leading operator drilling 4-mile laterals in the Permian’s Delaware Basin.
Exxon Closes $60B Pioneer Deal, Reshaping Permian Basin
2024-05-03 - After facing regulatory scrutiny, Exxon Mobil closed a roughly $60 billion acquisition of Pioneer Natural Resources. The largest shale oil transaction ever signed will reshape the order of power in the vast Permian Basin oil field.
Dallas Fed Energy Survey: Permian Basin Breakeven Costs Moving Up
2024-03-28 - Breakeven costs in America’s hottest oil play continue to rise, but crude producers are still making money, according to the first-quarter Dallas Fed Energy Survey. The situation is more dire for natural gas producers.
Permian M&A: Oxy Shops Delaware Assets, Family Oil Cos. Stand Out
2024-05-10 - As operators scour the Permian Basin for M&A opportunities, they’re keeping an eye on a tepid divestiture market. Family-owned oil companies also stand out among the pack of private inventory holders remaining in the Permian, according to Enverus Intelligence Research.
APA Closes $4.5B Callon Deal, Deepening Permian Roots
2024-04-01 - About two-thirds of Apache’s daily production will come from the Permian Basin after APA Corp. completed its $4.5 billion takeout of Callon Petroleum.