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Petronas has announced a hydrocarbon discovery in offshore Suriname’s Block 52 at exploration well #1-Sloanea. The Suriname-Guyana Basin exploration well was drilled to a total depth of 4,780 m and encountered several hydrocarbon-bearing sandstone formations with good reservoir qualities in Campanian. Further evaluation is planned to determine the full extent of the discovery. Malaysia-based Petronas is the operator of Block 52 and holds 50% participating interest with Exxon Mobil holding the remaining 50%.
Equinor announced results from an offshore Norway discovery in PL 263 D. The wildcat well, #6407/1-8 S, is east of Maria Field. The objective of the well was to prove petroleum in reservoir rocks from the Middle Jurassic Age (Garn and Ile formations). The well encountered the Garn with a thickness of about 85 m, with reservoir rocks of moderate to very good reservoir quality. The well is dry in the Garn and Ile. The well hit a 9-m gas column in Lange (Late Cretaceous), and there were three thin sandstone layers totaling 4 m with poor-to-moderate reservoir properties. Preliminary estimates place the size of the discovery to approximately 5.65 MMcf of recoverable oil equivalent. It was drilled to 3,518 m and was terminated in Ile. Area water depth is 295 m. The venture was not formation-tested and will be plugged and abandoned. Additional testing is planned in the area by the Stavanger-based company. This is the first exploration well in PL 263 D.
Medco Energi completed #1-West Belutm, an exploration and appraisal well in the Indonesian sector of the South Natuna Sea in Block B. The venture encountered an unreported amount of hydrocarbon resources after five drillstem tests. Additional testing and evaluation is planned. The company previously announced commercial exploration success on the South Natuna Sea Block B at #2-Bronang, #2-Kaci and #5-Terubuk wells. These discoveries and the #1-West Belut discovery will be developed in 2021-22 along with the prior development of the Hiu Field. The South Natuna Sea Block B is operated by Jakarta-based Medco with 75% interest along with partner Prime Natuna holding 25%.
View more highlights at Hart Energy's Drilling Activity database.
In the independent energy company’s latest deal, Earthstone Energy agreed to the acquisition of working interests in assets the company operates in the Eagle Ford Shale located from four separate sellers.
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Halliburton's stock has fallen around 70% in the past four weeks, to $6.14. The oilfield services provider already took a series of aggressive cost-cutting measures last year.