African-focused Ophir Energy has drilled a duster with its deepwater Mlinzi-Mbali 1 wildcat in Block 7 off the coast of east Africa’s Tanzania.
The US independent said the well, drilled by the Deepsea Metro 1 drillship, was completed ahead of schedule and budget but found that a primary Lower Cretaceous channel complex drilling target, and secondary Upper Cretaceous and Jurassic targets, were water-bearing.
The drillship is next due to be used for a high-impact drilling programme by BG Group offshore Kenya, before then returning to Tanzania for a further well on Block 1 and on Ophir’s operated East Pande block during the first half of this year.
“This frontier well disappointingly did not encounter live hydrocarbons, however it is the deepest stratigraphic test offshore Tanzania and will provide crucial information that will be integrated into our interpretation of the potential of Block 7 and the wider deepwater basins of Tanzania,” said Ophir’s chief executive Nick Cooper.
Block 7 is operated by Dominion Tanzania Ltd, an Ophir Energy subsidiary.
Recommended Reading
Buffett: ‘No Interest’ in Occidental Takeover, Praises 'Hallelujah!' Shale
2024-02-27 - Berkshire Hathaway’s Warren Buffett added that the U.S. electric power situation is “ominous.”
Why Endeavor Energy's Founder Sold His Company After Years of Rebuffing Offers
2024-02-13 - Autry Stephens', the 85-year-old wildcatter, decision to sell came after he was diagnosed with cancer, according to three people who discussed his health with him.
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
CEO: Magnolia Hunting Giddings Bolt-ons that ‘Pack a Punch’ in ‘24
2024-02-16 - Magnolia Oil & Gas plans to boost production volumes in the single digits this year, with the majority of the growth coming from the Giddings Field.
Occidental Increases Annual Dividend by 22%
2024-02-11 - Occidental Petroleum Corp.’s newly declared dividend is at an annual rate of $0.88 per share, compared to the previous annual rate of $0.72 per share.