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Wednesday, November 15, 2017
ExxonMobil and its partner Canadian Overseas Petroleum Ltd. (COPL) have both decided not to enter intothe third exploration period for Block LB-13 offshore Liberia. In its Q3 results, COPL said that both firms were surrendering their rights to the license, resulting in the “expiration of the LB-13 production sharing contract.”
The partners drilled the Mesurado-1 well in Q4 2016, unfortunately the well was a disappointment for the pair. The well was drilled using the Seadrill West Saturn drillship 50 miles off the coast of Liberia. The well, targeting oil in a sequence of Late Cretaceous Santonian aged sands, intersected 145 meters (475 feet) of net sand of which 118 meters (387 feet) was deemed to be reservoir quality. No hydrocarbons were indicated by the logging while drilling operations performed across the targeted intervals. As such, ExxonMobil decided that no further logging operations would be conducted, and the well was plugged and abandoned.
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