Presented by:
Editor's note: This article appears in the new E&P newsletter. Subscribe to the E&P newsletter here.
1 Suriname
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%.
2 Norway
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.
3 Indonesia
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.
Recommended Reading
Marathon Petroleum Sets 2024 Capex at $1.25 Billion
2024-01-30 - Marathon Petroleum Corp. eyes standalone capex at $1.25 billion in 2024, down 10% compared to $1.4 billion in 2023 as it focuses on cost reduction and margin enhancement projects.
Hess Corp. Boosts Bakken Output, Drilling Ahead of Chevron Merger
2024-01-31 - Hess Corp. increased its drilling activity and output from the Bakken play of North Dakota during the fourth quarter, the E&P reported in its latest earnings.
The OGInterview: Petrie Partners a Big Deal Among Investment Banks
2024-02-01 - In this OGInterview, Hart Energy's Chris Mathews sat down with Petrie Partners—perhaps not the biggest or flashiest investment bank around, but after over two decades, the firm has been around the block more than most.
Some Payne, But Mostly Gain for H&P in Q4 2023
2024-01-31 - Helmerich & Payne’s revenue grew internationally and in North America but declined in the Gulf of Mexico compared to the previous quarter.
Petrie Partners: A Small Wonder
2024-02-01 - Petrie Partners may not be the biggest or flashiest investment bank on the block, but after over two decades, its executives have been around the block more than most.