BHP has added to its discovered resources in Trinidad and Tobago after three exploration wells hit hydrocarbons.
The update was delivered July 17 as part of the company’s operational review for the financial year, which ended June 30. Each well targeted gas in Pliocene-aged rocks.
The first well, Bélé-1 in Block 23a, was spud in March and was drilled to a depth of 3,982 m. The second, Tuk-1, was spud in April—also in Block 23a. It was the deepest of the three—at 4,511 m. The Hi-Hat 1 exploration well was spud in May in Block 14 and drilled to a depth of 3,804 m.
All three hit hydrocarbons and were plugged and abandoned, the company said.
“These three discoveries in our Northern licenses have established additional volumes around the Bongos discovery and evaluations are ongoing,” BHP said in the update. “Technical work is underway to assess further exploration targets and commercial options for the Northern Gas play.”
The results marked the end of the Phase 3 of the company’s deepwater drilling campaign in the region. BHP is the operator of all three wells and holds a 70% interest.
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Production, volumes to process and move, EBITDA are all vulnerable in the near term, says Alerian.